Short Interest in Procure Space ETF (NASDAQ:UFO) Drops By 32.0%

Procure Space ETF (NASDAQ:UFO) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 234,656 shares, a drop of 32.0% from the February 12th total of 344,927 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 281,281 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 281,281 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.9% of the company’s shares are sold short.

Procure Space ETF Stock Performance

UFO opened at $44.64 on Friday. The stock has a market capitalization of $359.35 million, a PE ratio of 18.98 and a beta of 1.24. The stock’s 50 day moving average price is $44.91 and its 200-day moving average price is $39.14. Procure Space ETF has a 52-week low of $18.40 and a 52-week high of $48.66.

Procure Space ETF Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 29th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in shares of Procure Space ETF in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. increased its position in shares of Procure Space ETF by 452.6% during the third quarter. Geneos Wealth Management Inc. now owns 1,050 shares of the company’s stock valued at $37,000 after buying an additional 860 shares during the period. IFP Advisors Inc increased its position in shares of Procure Space ETF by 1,550.8% during the third quarter. IFP Advisors Inc now owns 1,948 shares of the company’s stock valued at $69,000 after buying an additional 1,830 shares during the period. Comerica Bank bought a new position in Procure Space ETF in the third quarter worth about $89,000. Finally, Centaurus Financial Inc. bought a new position in Procure Space ETF in the third quarter worth about $107,000.

About Procure Space ETF

The Procure Space ETF (UFO) is an exchange-traded fund that is based on the S-Network Space index. The fund tracks a tier-weighted index of aerospace companies located globally. UFO was launched on Apr 11, 2019 and is managed by ProcureAM.