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

Simplify High Yield ETF (NYSEARCA:CDX) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 366,043 shares, an increase of 1,869.9% from the February 26th total of 18,582 shares. Based on an average daily volume of 186,387 shares, the short-interest ratio is presently 2.0 days. Approximately 1.7% of the shares of the stock are short sold. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 186,387 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On Simplify High Yield ETF

A number of institutional investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC boosted its position in shares of Simplify High Yield ETF by 2.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 22,651 shares of the company’s stock valued at $519,000 after acquiring an additional 463 shares during the last quarter. BayBridge Capital Group LLC increased its position in shares of Simplify High Yield ETF by 7.1% in the fourth quarter. BayBridge Capital Group LLC now owns 10,217 shares of the company’s stock worth $228,000 after purchasing an additional 675 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Simplify High Yield ETF by 2.2% in the third quarter. Kestra Private Wealth Services LLC now owns 36,154 shares of the company’s stock worth $828,000 after purchasing an additional 795 shares during the last quarter. Belpointe Asset Management LLC raised its stake in Simplify High Yield ETF by 9.3% in the third quarter. Belpointe Asset Management LLC now owns 10,465 shares of the company’s stock valued at $240,000 after purchasing an additional 890 shares in the last quarter. Finally, Heck Capital Advisors LLC raised its stake in Simplify High Yield ETF by 8.6% in the fourth quarter. Heck Capital Advisors LLC now owns 12,975 shares of the company’s stock valued at $289,000 after purchasing an additional 1,030 shares in the last quarter.

Simplify High Yield ETF Trading Down 0.8%

Shares of CDX traded down $0.17 during mid-day trading on Tuesday, reaching $21.60. 196,820 shares of the stock traded hands, compared to its average volume of 210,559. The company has a market cap of $473.47 million, a price-to-earnings ratio of 11.17 and a beta of 0.33. Simplify High Yield ETF has a 1 year low of $21.48 and a 1 year high of $24.89. The firm has a fifty day moving average price of $22.01 and a 200 day moving average price of $22.41.

Simplify High Yield ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 24th were given a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date was Tuesday, February 24th.

About Simplify High Yield ETF

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.