Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) Shares Up 0.7% – Should You Buy?

Shares of Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) traded up 0.7% during trading on Wednesday . The stock traded as high as $53.73 and last traded at $53.46. 85,957 shares traded hands during trading, an increase of 268% from the average session volume of 23,361 shares. The stock had previously closed at $53.08.

Overlay Shares Large Cap Equity ETF Stock Up 0.7%

The stock has a market cap of $182.83 million, a price-to-earnings ratio of 24.33 and a beta of 1.15. The company’s 50-day simple moving average is $53.72 and its 200-day simple moving average is $52.46.

Overlay Shares Large Cap Equity ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Wednesday, January 28th were issued a $0.4706 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, January 28th. This is a positive change from Overlay Shares Large Cap Equity ETF’s previous quarterly dividend of $0.42.

Institutional Trading of Overlay Shares Large Cap Equity ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in Overlay Shares Large Cap Equity ETF by 5.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,921 shares of the company’s stock valued at $2,018,000 after buying an additional 1,969 shares in the last quarter. Nicolet Bankshares Inc. purchased a new stake in shares of Overlay Shares Large Cap Equity ETF in the 2nd quarter valued at approximately $214,000. Finally, CoreCap Advisors LLC acquired a new position in Overlay Shares Large Cap Equity ETF in the 3rd quarter worth approximately $57,000.

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.