Simplify US Equity PLUS Convexity ETF (NYSEARCA:SPYC) Sees Large Increase in Short Interest

Simplify US Equity PLUS Convexity ETF (NYSEARCA:SPYC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 12,503 shares, a growth of 74.4% from the August 15th total of 7,171 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 4,912 shares, the short-interest ratio is presently 2.5 days.

Hedge Funds Weigh In On Simplify US Equity PLUS Convexity ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its stake in shares of Simplify US Equity PLUS Convexity ETF by 11.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 326,608 shares of the company’s stock worth $14,920,000 after acquiring an additional 33,569 shares during the period. Montgomery Financial Services LLC purchased a new stake in Simplify US Equity PLUS Convexity ETF during the second quarter valued at about $60,000. Elevated Capital Advisors LLC bought a new position in Simplify US Equity PLUS Convexity ETF during the first quarter worth about $509,000. Evolution Wealth Management Inc. increased its stake in shares of Simplify US Equity PLUS Convexity ETF by 37.0% in the first quarter. Evolution Wealth Management Inc. now owns 102,699 shares of the company’s stock worth $4,054,000 after purchasing an additional 27,738 shares in the last quarter. Finally, Howard Bailey Securities LLC raised its position in shares of Simplify US Equity PLUS Convexity ETF by 13.4% in the fourth quarter. Howard Bailey Securities LLC now owns 11,046 shares of the company’s stock valued at $472,000 after purchasing an additional 1,309 shares during the period.

Simplify US Equity PLUS Convexity ETF Trading Up 1.5%

Shares of SPYC stock traded up $0.69 during trading on Thursday, hitting $45.91. The company’s stock had a trading volume of 2,342 shares, compared to its average volume of 13,466. The company has a market cap of $137.68 million, a PE ratio of 26.87 and a beta of 0.99. The business has a fifty day moving average of $46.22 and a 200-day moving average of $44.33. Simplify US Equity PLUS Convexity ETF has a 52 week low of $38.50 and a 52 week high of $48.96.

About Simplify US Equity PLUS Convexity ETF

The Simplify US Equity PLUS Convexity ETF (SPYC) is an exchange-traded fund that is based on the S&P 500 index. The fund is an actively managed, fund-of-funds that provides exposure to the S&P 500 with a systematic options overlay strategy. The overlay strategy seeks to enhance upside potential and hedge downside risk. SPYC was launched on Sep 3, 2020 and is managed by Simplify.