Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) Shares Down 0.3% – Should You Sell?

Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) shares dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $52.90 and last traded at $53.19. Approximately 2,332 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 42,245 shares. The stock had previously closed at $53.37.

Overlay Shares Large Cap Equity ETF Price Performance

The firm has a market cap of $180.85 million, a PE ratio of 24.33 and a beta of 1.15. The firm has a 50-day simple moving average of $52.72 and a 200 day simple moving average of $50.61.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new position in Overlay Shares Large Cap Equity ETF in the 3rd quarter worth about $57,000. Nicolet Bankshares Inc. purchased a new stake in Overlay Shares Large Cap Equity ETF during the 2nd quarter valued at $214,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Overlay Shares Large Cap Equity ETF in the 1st quarter worth $402,000.

About Overlay Shares Large Cap Equity ETF

The Overlay Shares Large Cap Equity ETF (OVL) is an exchange-traded fund that is based on the S&P 500 index. The fund is actively managed to provide exposure to large cap U.S. equities combined with a put spread option overlay strategy. OVL was launched on Sep 30, 2019 and is managed by Overlay Shares.