Arrow Dow Jones Global Yield ETF (NYSE:GYLD) Sees Large Drop in Short Interest

Arrow Dow Jones Global Yield ETF (NYSE:GYLD) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 54,686 shares, a decline of 37.3% from the August 15th total of 87,243 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average trading volume of 11,137 shares, the days-to-cover ratio is presently 4.9 days.

Arrow Dow Jones Global Yield ETF Price Performance

GYLD stock traded down $0.08 during trading hours on Wednesday, reaching $14.07. 1,068 shares of the stock were exchanged, compared to its average volume of 16,400. The firm’s 50-day moving average is $14.37 and its 200-day moving average is $14.18. The company has a market cap of $28.28 million, a price-to-earnings ratio of 11.13 and a beta of 0.55. Arrow Dow Jones Global Yield ETF has a 12 month low of $12.88 and a 12 month high of $14.69.

Arrow Dow Jones Global Yield ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 21st. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.0906 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Arrow Dow Jones Global Yield ETF during the second quarter worth about $132,000. NewEdge Advisors LLC acquired a new position in Arrow Dow Jones Global Yield ETF in the 1st quarter valued at $209,000. Finally, Sequent Planning LLC increased its holdings in shares of Arrow Dow Jones Global Yield ETF by 8.8% during the first quarter. Sequent Planning LLC now owns 16,268 shares of the company’s stock worth $224,000 after purchasing an additional 1,313 shares during the period.

Arrow Dow Jones Global Yield ETF Company Profile

The Arrow Dow Jones Global Yield ETF (GYLD) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund tracks an index weighted equally between equities, sovereign debt, corporate debt, real estate and energy. The ETF seeks to invest in 150 securities and provide monthly distributions. GYLD was launched on May 8, 2012 and is managed by ArrowShares.