NEOS S&P 500 High Income ETF (BATS:SPYI) Sees Large Growth in Short Interest

NEOS S&P 500 High Income ETF (BATS:SPYI) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 2,005,373 shares, an increase of 191.3% from the May 31st total of 688,400 shares. Based on an average trading volume of 3,510,840 shares, the short-interest ratio is presently 0.6 days. Currently, 2.4% of the company’s shares are short sold.

NEOS S&P 500 High Income ETF Trading Down 0.4%

Shares of SPYI opened at $51.99 on Friday. NEOS S&P 500 High Income ETF has a 12-month low of $47.77 and a 12-month high of $54.11. The firm has a 50-day moving average price of $52.99 and a 200 day moving average price of $52.28. The firm has a market capitalization of $4.29 billion, a P/E ratio of 25.58 and a beta of 0.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in NEOS S&P 500 High Income ETF by 17.5% in the first quarter. Royal Bank of Canada now owns 62,184 shares of the company’s stock valued at $2,978,000 after purchasing an additional 9,262 shares during the period. NewEdge Advisors LLC grew its holdings in shares of NEOS S&P 500 High Income ETF by 215.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,048 shares of the company’s stock worth $98,000 after purchasing an additional 1,398 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of NEOS S&P 500 High Income ETF during the 2nd quarter worth about $91,000. Baird Financial Group Inc. purchased a new stake in NEOS S&P 500 High Income ETF in the 2nd quarter valued at about $704,000. Finally, Jump Financial LLC purchased a new stake in NEOS S&P 500 High Income ETF in the 2nd quarter valued at about $1,132,000.

About NEOS S&P 500 High Income ETF

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.