Madison Aggregate Bond ETF (NYSEARCA:MAGG) Sees Large Drop in Short Interest

Madison Aggregate Bond ETF (NYSEARCA:MAGG) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 87,757 shares, a decrease of 24.9% from the January 15th total of 116,842 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,061 shares, the short-interest ratio is presently 5.5 days. Based on an average daily trading volume, of 16,061 shares, the short-interest ratio is presently 5.5 days. Currently, 2.6% of the shares of the stock are short sold.

Madison Aggregate Bond ETF Stock Up 0.3%

MAGG stock traded up $0.07 during mid-day trading on Friday, reaching $20.74. The company’s stock had a trading volume of 29,857 shares, compared to its average volume of 10,472. The company’s 50 day moving average is $20.55 and its two-hundred day moving average is $20.55. Madison Aggregate Bond ETF has a fifty-two week low of $19.96 and a fifty-two week high of $20.96.

Madison Aggregate Bond ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 28th were given a dividend of $0.0673 per share. The ex-dividend date was Wednesday, January 28th. This represents a c) dividend on an annualized basis and a yield of 3.9%.

Institutional Trading of Madison Aggregate Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in shares of Madison Aggregate Bond ETF by 512.7% during the 2nd quarter. Tidal Investments LLC now owns 99,685 shares of the company’s stock valued at $2,030,000 after acquiring an additional 83,416 shares during the last quarter. Royal Bank of Canada raised its stake in Madison Aggregate Bond ETF by 22.5% during the first quarter. Royal Bank of Canada now owns 262,902 shares of the company’s stock worth $5,339,000 after purchasing an additional 48,369 shares during the period. Finally, Jane Street Group LLC acquired a new position in Madison Aggregate Bond ETF in the 1st quarter valued at about $480,000.

About Madison Aggregate Bond ETF

The Madison Aggregate Bond ETF (MAGG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that seeks to generate superior long-term risk adjusted performance through investments in US investment-grade bonds. The fund maintains an intermediate average portfolio duration but may include securities of any maturity. MAGG was launched on Aug 29, 2023 and is issued by Madison.