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

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 201,260 shares, a decline of 45.0% from the March 15th total of 366,043 shares. Based on an average daily volume of 143,895 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Simplify High Yield ETF

A number of large investors have recently made changes to their positions in CDX. Wells Fargo & Company MN purchased a new stake in shares of Simplify High Yield ETF during the fourth quarter valued at $27,000. Arax Advisory Partners purchased a new stake in shares of Simplify High Yield ETF during the fourth quarter valued at $28,000. Private Trust Co. NA purchased a new stake in shares of Simplify High Yield ETF during the fourth quarter valued at $30,000. Clearstead Advisors LLC purchased a new stake in shares of Simplify High Yield ETF during the fourth quarter valued at $38,000. Finally, NBC Securities Inc. purchased a new stake in shares of Simplify High Yield ETF during the fourth quarter valued at $42,000.

Simplify High Yield ETF Price Performance

NYSEARCA CDX traded up $0.04 on Monday, hitting $21.64. The stock had a trading volume of 52,976 shares, compared to its average volume of 200,308. The business’s fifty day moving average price is $21.77 and its 200 day moving average price is $22.27. Simplify High Yield ETF has a 52-week low of $21.16 and a 52-week high of $23.56. The stock has a market cap of $453.36 million, a price-to-earnings ratio of 11.17 and a beta of 0.33.

Simplify High Yield ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 24th were issued a $0.15 dividend. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Tuesday, February 24th.

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.