CP High Yield Trend ETF (NYSE:HYTR) Sees Significant Drop in Short Interest

CP High Yield Trend ETF (NYSE:HYTR) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 39,102 shares, a drop of 73.2% from the September 30th total of 146,005 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 51,971 shares, the days-to-cover ratio is presently 0.8 days.

CP High Yield Trend ETF Price Performance

NYSE HYTR remained flat at $20.77 on Friday. 15,931 shares of the company’s stock were exchanged, compared to its average volume of 63,008. CP High Yield Trend ETF has a 12 month low of $20.71 and a 12 month high of $21.92. The firm’s 50 day moving average price is $20.97 and its 200-day moving average price is $21.36. The firm has a market cap of $295.97 million, a price-to-earnings ratio of 10.56 and a beta of 0.24.

CP High Yield Trend ETF Company Profile

The CP High Yield Trend ETF (HYTR) is an exchange-traded fund that is based on the CP High Yield Trend index. The fund aims to reduce risk by tracking a rules-based quantitative index of US bonds that will toggling between high yield and treasuries based on momentum. HYTR was launched on Jan 21, 2020 and is managed by Counterpoint.