ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO – Get Free Report) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 2,659 shares, a drop of 90.7% from the July 30th total of 28,558 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 170,872 shares, the days-to-cover ratio is presently 0.0 days.
ETRACS Silver Shares Covered Call ETN Price Performance
Shares of SLVO stock traded up $0.64 during midday trading on Thursday, reaching $71.58. 108,771 shares of the company traded hands, compared to its average volume of 130,900. The firm’s 50 day simple moving average is $66.51 and its two-hundred day simple moving average is $81.63. ETRACS Silver Shares Covered Call ETN has a 1-year low of $61.01 and a 1-year high of $107.41.
ETRACS Silver Shares Covered Call ETN Cuts Dividend
The company also recently announced a monthly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Thursday, August 20th were issued a $1.3177 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a c) annualized dividend and a yield of 22.1%.
Institutional Inflows and Outflows
ETRACS Silver Shares Covered Call ETN (NASDAQ: SLVO) is an exchange-traded note listed in the United States that provides investors with a packaged exposure to silver coupled with an options overlay. The product is structured to deliver returns that reflect the performance of a long position in shares representing physical silver together with the income and payoff profile generated by a covered call strategy. As an ETN, SLVO is an unsecured debt instrument whose economic return is tied to the referenced strategy rather than to ownership of a separate pool of assets.
The covered call component typically involves selling call options against the underlying silver shares to collect option premium, which can produce regular income and reduce short‑term volatility, while also capping upside participation when the underlying rises above option strike prices.
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