Simplify High Yield ETF (NYSEARCA:CDX) Short Interest Up 1,869.9% in March

Simplify High Yield ETF (NYSEARCA:CDX) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 366,043 shares, an increase of 1,869.9% from the February 26th total of 18,582 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 186,387 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 186,387 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.7% of the company’s shares are sold short.

Institutional Trading of Simplify High Yield ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altiora Financial Group LLC lifted its stake in Simplify High Yield ETF by 301.5% during the third quarter. Altiora Financial Group LLC now owns 1,005,361 shares of the company’s stock worth $23,033,000 after purchasing an additional 754,944 shares in the last quarter. Insight Wealth Strategies LLC purchased a new stake in shares of Simplify High Yield ETF in the 3rd quarter valued at $11,795,000. Meridian Wealth Management LLC purchased a new stake in shares of Simplify High Yield ETF in the 4th quarter valued at $7,109,000. Orion Porfolio Solutions LLC lifted its stake in Simplify High Yield ETF by 1,306.2% during the 4th quarter. Orion Porfolio Solutions LLC now owns 318,520 shares of the company’s stock worth $7,093,000 after acquiring an additional 295,869 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its stake in Simplify High Yield ETF by 177.2% during the 4th quarter. Drive Wealth Management LLC now owns 372,252 shares of the company’s stock worth $8,290,000 after acquiring an additional 237,952 shares in the last quarter.

Simplify High Yield ETF Price Performance

Shares of CDX opened at $21.60 on Wednesday. The firm has a 50-day simple moving average of $22.01 and a two-hundred day simple moving average of $22.41. The stock has a market cap of $473.47 million, a PE ratio of 11.17 and a beta of 0.33. Simplify High Yield ETF has a 1-year low of $21.48 and a 1-year high of $24.89.

Simplify High Yield ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%.

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.