Sowell Financial Services LLC acquired a new position in Simplify Hedged Equity ETF (NYSEARCA:HEQT – Free Report) in the third quarter, Holdings Channel reports. The firm acquired 94,780 shares of the company’s stock, valued at approximately $3,253,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC acquired a new stake in Simplify Hedged Equity ETF during the 3rd quarter valued at $3,605,000. First Heartland Consultants Inc. purchased a new stake in shares of Simplify Hedged Equity ETF in the third quarter valued at $677,000. Financial Enhancement Group LLC purchased a new stake in shares of Simplify Hedged Equity ETF in the third quarter valued at $4,513,000. Envestnet Asset Management Inc. boosted its position in shares of Simplify Hedged Equity ETF by 13.2% in the second quarter. Envestnet Asset Management Inc. now owns 152,958 shares of the company’s stock worth $5,130,000 after buying an additional 17,893 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Simplify Hedged Equity ETF in the second quarter worth $197,000.
Simplify Hedged Equity ETF Trading Down 1.3%
Shares of HEQT stock opened at $34.19 on Friday. Simplify Hedged Equity ETF has a 1-year low of $30.72 and a 1-year high of $34.98. The company has a market capitalization of $312.84 million, a price-to-earnings ratio of 25.09 and a beta of 0.47. The stock’s fifty day simple moving average is $34.46 and its 200-day simple moving average is $33.28.
About Simplify Hedged Equity ETF
The Simplify Hedged Equity ETF (HEQT) is an exchange-traded fund that mostly invests in large cap equity. The fund seeks capital appreciation by investing in ETFs that track the S&P 500 Index, while employing an options collar strategy. Each collar consists of an approximately 5% to 20% out-of-the-money put-spread. HEQT was launched on Nov 1, 2021 and is managed by Simplify.
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