NEOS S&P 500 High Income ETF (BATS:SPYI) Sees Significant Increase in Short Interest

NEOS S&P 500 High Income ETF (BATS:SPYI) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 2,882,262 shares, an increase of 217.8% from the June 30th total of 906,901 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 2,186,107 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On NEOS S&P 500 High Income ETF

A number of hedge funds have recently added to or reduced their stakes in SPYI. Scott Capital Advisors LLC lifted its position in NEOS S&P 500 High Income ETF by 57.9% in the 2nd quarter. Scott Capital Advisors LLC now owns 8,163 shares of the company’s stock valued at $433,000 after acquiring an additional 2,993 shares in the last quarter. Fulcrum Equity Management bought a new stake in shares of NEOS S&P 500 High Income ETF in the 2nd quarter worth $293,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of NEOS S&P 500 High Income ETF in the 2nd quarter worth $202,000. Wealthcare Advisory Partners LLC purchased a new position in shares of NEOS S&P 500 High Income ETF in the second quarter worth $453,000. Finally, Paladin Wealth LLC raised its stake in shares of NEOS S&P 500 High Income ETF by 15.3% in the second quarter. Paladin Wealth LLC now owns 31,123 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,140 shares during the last quarter.

NEOS S&P 500 High Income ETF Stock Performance

Shares of NEOS S&P 500 High Income ETF stock opened at $52.32 on Tuesday. The company has a 50-day simple moving average of $53.13 and a two-hundred day simple moving average of $52.33. The stock has a market capitalization of $4.32 billion, a PE ratio of 25.58 and a beta of 0.71. NEOS S&P 500 High Income ETF has a 52-week low of $47.77 and a 52-week high of $54.11.

About NEOS S&P 500 High Income ETF

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.