Simplify High Yield ETF (NYSEARCA:CDX) Sees Significant Decline in Short Interest

Simplify High Yield ETF (NYSEARCA:CDX) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 18,582 shares, a decrease of 57.0% from the February 12th total of 43,258 shares. Based on an average trading volume of 165,281 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 165,281 shares, the days-to-cover ratio is presently 0.1 days.

Simplify High Yield ETF Stock Performance

Shares of NYSEARCA CDX opened at $21.86 on Wednesday. Simplify High Yield ETF has a 52-week low of $21.58 and a 52-week high of $24.89. The business has a fifty day moving average of $22.13 and a two-hundred day moving average of $22.49. The stock has a market cap of $479.17 million, a PE ratio of 11.17 and a beta of 0.33.

Simplify High Yield ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a c) annualized dividend and a dividend yield of 8.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CDX. Wells Fargo & Company MN bought a new stake in Simplify High Yield ETF during the 4th quarter worth approximately $27,000. Arax Advisory Partners bought a new position in Simplify High Yield ETF in the 4th quarter valued at $28,000. Private Trust Co. NA acquired a new position in Simplify High Yield ETF in the fourth quarter worth $30,000. Clearstead Advisors LLC acquired a new position in Simplify High Yield ETF in the fourth quarter worth $38,000. Finally, NBC Securities Inc. bought a new stake in shares of Simplify High Yield ETF during the fourth quarter worth $42,000.

Simplify High Yield ETF Company Profile

The Simplify High Yield PLUS Credit Hedge ETF (CDX) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is a fund-of-funds that invests in US high-yield bond ETFs with different maturities. It also provides a credit hedge overlay, which may contain S&P 500 Index (SPX) puts. CDX was launched on Feb 14, 2022 and is managed by Simplify.