VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Trading Up 2.6% Following Dividend Announcement

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) shares were up 2.6% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $46.50 and last traded at $46.4040. Approximately 317,308 shares traded hands during trading, an increase of 206% from the average daily volume of 103,824 shares. The stock had previously closed at $45.25.

The newly announced dividend which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 9th will be issued a $0.0371 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, April 9th. VictoryShares WestEnd US Sector ETF’s dividend payout ratio is presently 38.20%.

VictoryShares WestEnd US Sector ETF Stock Performance

The stock’s fifty day moving average price is $46.29 and its 200-day moving average price is $46.84. The company has a market capitalization of $834.71 million, a P/E ratio of 52.19 and a beta of 0.94.

Institutional Investors Weigh In On VictoryShares WestEnd US Sector ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of VictoryShares WestEnd US Sector ETF by 7.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,480,761 shares of the company’s stock valued at $260,446,000 after purchasing an additional 395,473 shares during the period. Janney Montgomery Scott LLC raised its holdings in VictoryShares WestEnd US Sector ETF by 14.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,263,932 shares of the company’s stock valued at $60,062,000 after acquiring an additional 156,576 shares during the period. Truist Financial Corp raised its holdings in VictoryShares WestEnd US Sector ETF by 5.7% in the 4th quarter. Truist Financial Corp now owns 1,119,138 shares of the company’s stock valued at $53,181,000 after acquiring an additional 60,079 shares during the period. LPL Financial LLC raised its holdings in VictoryShares WestEnd US Sector ETF by 33.5% in the 4th quarter. LPL Financial LLC now owns 1,094,146 shares of the company’s stock valued at $51,994,000 after acquiring an additional 274,425 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in VictoryShares WestEnd US Sector ETF by 12.4% in the 3rd quarter. Raymond James Financial Inc. now owns 992,250 shares of the company’s stock valued at $45,858,000 after acquiring an additional 109,420 shares during the period. 29.49% of the stock is owned by institutional investors.

About VictoryShares WestEnd US Sector ETF

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.