Fairlead Tactical Sector ETF (NYSEARCA:TACK) Sees Large Drop in Short Interest

Fairlead Tactical Sector ETF (NYSEARCA:TACK) was the recipient of a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 219 shares, a decline of 92.0% from the October 15th total of 2,753 shares. Based on an average daily trading volume, of 13,270 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Fairlead Tactical Sector ETF

Several hedge funds and other institutional investors have recently bought and sold shares of TACK. Evernest Financial Advisors LLC increased its position in Fairlead Tactical Sector ETF by 59.2% in the first quarter. Evernest Financial Advisors LLC now owns 541,504 shares of the company’s stock worth $16,619,000 after buying an additional 201,285 shares during the period. NBZ Investment Advisors LLC lifted its position in shares of Fairlead Tactical Sector ETF by 0.3% in the first quarter. NBZ Investment Advisors LLC now owns 319,396 shares of the company’s stock worth $9,709,000 after buying an additional 877 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Fairlead Tactical Sector ETF in the third quarter valued at approximately $2,673,000. Commonwealth Equity Services LLC bought a new stake in shares of Fairlead Tactical Sector ETF during the 3rd quarter worth $4,279,000. Finally, D.A. Davidson & CO. acquired a new position in Fairlead Tactical Sector ETF during the 3rd quarter valued at $252,000.

Fairlead Tactical Sector ETF Price Performance

TACK stock traded down $0.20 during trading on Tuesday, hitting $31.80. 16,313 shares of the company traded hands, compared to its average volume of 21,073. The company has a market cap of $290.33 million, a PE ratio of 17.28 and a beta of 0.50. The stock’s 50-day simple moving average is $32.03 and its 200 day simple moving average is $31.52. Fairlead Tactical Sector ETF has a 1 year low of $28.97 and a 1 year high of $33.03.

Fairlead Tactical Sector ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Monday, September 28th were issued a $0.0958 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, September 28th. This is a negative change from Fairlead Tactical Sector ETF’s previous quarterly dividend of $0.1310.

Fairlead Tactical Sector ETF Company Profile

The Fairlead Tactical Sector Fund (TACK) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund relies on a proprietary, technical model to actively manage a US large-cap sector rotation strategy. During periods deemed risk-off, the fund toggles the exposure to short- or long-term US Treasurys or gold TACK was launched on Mar 23, 2022 and is managed by Fairlead.