Simplify High Yield ETF (NYSEARCA:CDX) Sees Significant Decline in Short Interest

Simplify High Yield ETF (NYSEARCA:CDX) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 201,260 shares, a decline of 45.0% from the March 15th total of 366,043 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 143,895 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AE Wealth Management LLC lifted its position in Simplify High Yield ETF by 16.8% during the fourth quarter. AE Wealth Management LLC now owns 1,216,909 shares of the company’s stock valued at $27,101,000 after purchasing an additional 174,686 shares during the period. Altiora Financial Group LLC lifted its position in Simplify High Yield ETF by 6.9% during the fourth quarter. Altiora Financial Group LLC now owns 1,074,402 shares of the company’s stock valued at $23,927,000 after purchasing an additional 69,041 shares during the period. Park Edge Advisors LLC lifted its position in Simplify High Yield ETF by 4.7% during the fourth quarter. Park Edge Advisors LLC now owns 753,087 shares of the company’s stock valued at $16,771,000 after purchasing an additional 34,075 shares during the period. Insight Wealth Strategies LLC lifted its position in Simplify High Yield ETF by 25.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 647,232 shares of the company’s stock valued at $14,414,000 after purchasing an additional 132,380 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Simplify High Yield ETF by 3.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 386,656 shares of the company’s stock valued at $8,611,000 after purchasing an additional 12,943 shares during the period.

Simplify High Yield ETF Stock Up 0.2%

Shares of CDX traded up $0.04 during trading hours on Monday, reaching $21.64. 52,976 shares of the company traded hands, compared to its average volume of 200,308. The stock has a market capitalization of $453.36 million, a P/E ratio of 11.17 and a beta of 0.33. Simplify High Yield ETF has a 12-month low of $21.16 and a 12-month high of $23.56. The business has a fifty day moving average price of $21.77 and a 200-day moving average price of $22.27.

Simplify High Yield ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%.

Simplify High Yield ETF Company Profile

The Simplify High Yield PLUS Credit Hedge ETF (CDX) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is a fund-of-funds that invests in US high-yield bond ETFs with different maturities. It also provides a credit hedge overlay, which may contain S&P 500 Index (SPX) puts. CDX was launched on Feb 14, 2022 and is managed by Simplify.