YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) Sees Large Decline in Short Interest

YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 2,180,417 shares, a drop of 12.8% from the January 15th total of 2,501,025 shares. Approximately 8.3% of the company’s shares are sold short. Based on an average daily volume of 1,879,891 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 1,879,891 shares, the days-to-cover ratio is currently 1.2 days. Approximately 8.3% of the company’s shares are sold short.

YieldMax Magnificent 7 Fund of Option Income ETF Stock Up 0.3%

Shares of YMAG stock opened at $12.90 on Wednesday. YieldMax Magnificent 7 Fund of Option Income ETF has a 1-year low of $12.70 and a 1-year high of $18.34. The company has a 50-day moving average of $13.96 and a two-hundred day moving average of $14.80.

YieldMax Magnificent 7 Fund of Option Income ETF Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 18th will be paid a $0.0503 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a dividend yield of 4,337.0%.

About YieldMax Magnificent 7 Fund of Option Income ETF

The YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is a fund-of-funds that invests in seven mega-cap ETFs considered to be driving the market through technology. The underlying ETFs seek to provide current income and capped gains of these stocks through a synthetic covered call strategy. YMAG was launched on Jan 29, 2024 and is issued by YieldMax.