YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) Sees Significant Decline in Short Interest

YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 2,123,399 shares, a drop of 13.6% from the February 26th total of 2,458,129 shares. Based on an average daily volume of 1,268,315 shares, the days-to-cover ratio is currently 1.7 days. Approximately 8.0% of the company’s shares are short sold.

YieldMax Magnificent 7 Fund of Option Income ETF Stock Up 0.2%

Shares of NYSEARCA:YMAG opened at $11.97 on Thursday. The business has a fifty day simple moving average of $12.92 and a 200-day simple moving average of $14.17. YieldMax Magnificent 7 Fund of Option Income ETF has a 52 week low of $11.47 and a 52 week high of $16.05.

YieldMax Magnificent 7 Fund of Option Income ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 25th were issued a $0.0503 dividend. The ex-dividend date was Wednesday, February 25th. This represents a yield of 3,555.0%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in YieldMax Magnificent 7 Fund of Option Income ETF stock. Claris Financial LLC bought a new position in YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,953 shares of the company’s stock, valued at approximately $725,000. Claris Financial LLC owned about 0.19% of YieldMax Magnificent 7 Fund of Option Income ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

YieldMax Magnificent 7 Fund of Option Income ETF Company Profile

The YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is a fund-of-funds that invests in seven mega-cap ETFs considered to be driving the market through technology. The underlying ETFs seek to provide current income and capped gains of these stocks through a synthetic covered call strategy. YMAG was launched on Jan 29, 2024 and is issued by YieldMax.