Short Interest in Xrp Etf (NASDAQ:XRPI) Declines By 66.0%

Xrp Etf (NASDAQ:XRPI) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 54,607 shares, a drop of 66.0% from the May 14th total of 160,652 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 158,158 shares, the days-to-cover ratio is currently 0.3 days.

Xrp Etf Stock Performance

Shares of XRPI stock traded down $0.07 during trading hours on Friday, hitting $6.28. 225,796 shares of the company were exchanged, compared to its average volume of 341,701. Xrp Etf has a fifty-two week low of $5.93 and a fifty-two week high of $23.53. The company has a 50 day simple moving average of $7.53 and a two-hundred day simple moving average of $9.12.

Xrp Etf Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 20th were given a dividend of $0.0135 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 2.6%.

Institutional Trading of Xrp Etf

Several large investors have recently modified their holdings of the stock. Flow Traders U.S. LLC acquired a new stake in shares of Xrp Etf during the 3rd quarter worth approximately $1,934,000. Q3 Asset Management acquired a new stake in shares of Xrp Etf during the 4th quarter worth approximately $430,000. Finally, Hurley Capital LLC acquired a new stake in shares of Xrp Etf during the 3rd quarter worth approximately $135,000.

About Xrp Etf

Volatility Shares Trust – XRP ETF is a multi-asset mutual fund launched by and managed by Volatility Shares LLC. The fund seeks to invest in various financial instruments like currency and fixed income instruments. For its fixed income portion, it primarily invests in cash, cash-like instruments or high-quality securities. For its currency portion, it invests through derivatives in XRP. The fund uses derivatives such as futures and swaps to create its portfolio. It seeks to invest in XRP futures through a wholly-owned Cayman Islands subsidiary.