Madison Aggregate Bond ETF (NYSEARCA:MAGG) Sees Significant Drop in Short Interest

Madison Aggregate Bond ETF (NYSEARCA:MAGG) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 87,757 shares, a drop of 24.9% from the January 15th total of 116,842 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 16,061 shares, the days-to-cover ratio is currently 5.5 days. Based on an average daily trading volume, of 16,061 shares, the days-to-cover ratio is currently 5.5 days. Approximately 2.6% of the company’s stock are short sold.

Madison Aggregate Bond ETF Stock Up 0.3%

Shares of NYSEARCA MAGG opened at $20.74 on Tuesday. Madison Aggregate Bond ETF has a fifty-two week low of $19.96 and a fifty-two week high of $20.96. The firm’s 50-day simple moving average is $20.56 and its 200 day simple moving average is $20.56.

Madison Aggregate Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 28th were given a dividend of $0.0673 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a c) annualized dividend and a dividend yield of 3.9%.

Hedge Funds Weigh In On Madison Aggregate Bond ETF

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Madison Aggregate Bond ETF by 22.5% during the 1st quarter. Royal Bank of Canada now owns 262,902 shares of the company’s stock worth $5,339,000 after acquiring an additional 48,369 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Madison Aggregate Bond ETF during the first quarter valued at about $480,000. Finally, Tidal Investments LLC boosted its holdings in Madison Aggregate Bond ETF by 512.7% during the second quarter. Tidal Investments LLC now owns 99,685 shares of the company’s stock worth $2,030,000 after purchasing an additional 83,416 shares during the last quarter.

About Madison Aggregate Bond ETF

The Madison Aggregate Bond ETF (MAGG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that seeks to generate superior long-term risk adjusted performance through investments in US investment-grade bonds. The fund maintains an intermediate average portfolio duration but may include securities of any maturity. MAGG was launched on Aug 29, 2023 and is issued by Madison.