ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) Sees Strong Trading Volume Following Dividend Announcement

ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) shares saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 56,083 shares were traded during trading, an increase of 60% from the previous session’s volume of 34,975 shares.The stock last traded at $39.37 and had previously closed at $39.45.

The newly announced dividend which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 30th will be issued a $0.089 dividend. This is a positive change from ETC 6 Meridian Hedged Equity Index Option Strategy’s previous monthly dividend of $0.04. The ex-dividend date is Tuesday, December 30th. This represents a c) annualized dividend and a yield of 2.7%.

ETC 6 Meridian Hedged Equity Index Option Strategy Trading Down 0.2%

The company has a market cap of $506.16 million, a price-to-earnings ratio of 16.87 and a beta of 0.37. The stock’s 50 day moving average price is $38.65 and its 200 day moving average price is $38.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its position in ETC 6 Meridian Hedged Equity Index Option Strategy by 23.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 136,978 shares of the company’s stock worth $5,265,000 after acquiring an additional 26,103 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of ETC 6 Meridian Hedged Equity Index Option Strategy in the 2nd quarter valued at about $229,000. OLD Mission Capital LLC bought a new position in ETC 6 Meridian Hedged Equity Index Option Strategy during the 1st quarter worth approximately $352,000. Mainstay Capital Management LLC ADV boosted its holdings in ETC 6 Meridian Hedged Equity Index Option Strategy by 5.4% in the second quarter. Mainstay Capital Management LLC ADV now owns 2,537,778 shares of the company’s stock worth $97,552,000 after purchasing an additional 129,355 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 2.2% in the 3rd quarter. HighTower Advisors LLC now owns 12,221,580 shares of the company’s stock valued at $472,585,000 after buying an additional 263,500 shares during the period.

About ETC 6 Meridian Hedged Equity Index Option Strategy

The ETC 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund that provides exposure to US equities and sellscall options against SPY. SIXH was launched on May 11, 2020 and is managed by Meridian.