ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) Sees Large Decrease in Short Interest

ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 2,686 shares, a drop of 47.6% from the May 31st total of 5,129 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 7,130 shares, the days-to-cover ratio is currently 0.4 days.

ETC 6 Meridian Hedged Equity Index Option Strategy Stock Down 0.0%

Shares of SIXH stock opened at $43.09 on Tuesday. The company has a market capitalization of $557.15 million, a P/E ratio of 16.87 and a beta of 0.31. ETC 6 Meridian Hedged Equity Index Option Strategy has a 12-month low of $37.48 and a 12-month high of $43.32. The firm has a 50-day moving average price of $42.16 and a 200 day moving average price of $41.55.

ETC 6 Meridian Hedged Equity Index Option Strategy Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.0797 per share. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from ETC 6 Meridian Hedged Equity Index Option Strategy’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in ETC 6 Meridian Hedged Equity Index Option Strategy in the second quarter worth $74,000. OLD Mission Capital LLC increased its stake in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 99.2% in the fourth quarter. OLD Mission Capital LLC now owns 13,255 shares of the company’s stock valued at $521,000 after buying an additional 6,600 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ETC 6 Meridian Hedged Equity Index Option Strategy in the fourth quarter valued at $327,000. Wealth Alliance Advisory Group LLC increased its stake in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 138.7% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 40,176 shares of the company’s stock valued at $1,578,000 after buying an additional 23,343 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 1.3% in the fourth quarter. HighTower Advisors LLC now owns 12,378,415 shares of the company’s stock valued at $486,199,000 after buying an additional 156,835 shares during the last quarter.

About ETC 6 Meridian Hedged Equity Index Option Strategy

The ETC 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund that provides exposure to US equities and sellscall options against SPY. SIXH was launched on May 11, 2020 and is managed by Meridian.