Global X Alternative Income ETF (NASDAQ:ALTY) Short Interest Down 58.6% in May

Global X Alternative Income ETF (NASDAQ:ALTY) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 2,241 shares, a drop of 58.6% from the April 30th total of 5,418 shares. Based on an average trading volume of 10,156 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

Global X Alternative Income ETF Stock Performance

Shares of NASDAQ ALTY opened at $12.37 on Friday. Global X Alternative Income ETF has a fifty-two week low of $11.41 and a fifty-two week high of $12.58. The stock has a market cap of $44.28 million, a price-to-earnings ratio of 17.85 and a beta of 0.61. The firm’s 50-day simple moving average is $12.25 and its 200 day simple moving average is $12.18.

Global X Alternative Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th were given a $0.079 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Tuesday, May 5th. This is a positive change from Global X Alternative Income ETF’s previous monthly dividend of $0.08.

Hedge Funds Weigh In On Global X Alternative Income ETF

Several large investors have recently added to or reduced their stakes in ALTY. Harbour Investments Inc. bought a new position in Global X Alternative Income ETF in the 4th quarter valued at about $45,000. Advisory Services Network LLC bought a new position in Global X Alternative Income ETF in the 3rd quarter valued at about $61,000. Kestra Advisory Services LLC bought a new position in Global X Alternative Income ETF in the 4th quarter valued at about $73,000. Bank of America Corp DE lifted its position in shares of Global X Alternative Income ETF by 60.6% during the 4th quarter. Bank of America Corp DE now owns 8,446 shares of the company’s stock worth $98,000 after buying an additional 3,188 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Global X Alternative Income ETF by 48.0% during the 1st quarter. Private Advisor Group LLC now owns 15,600 shares of the company’s stock worth $187,000 after buying an additional 5,061 shares in the last quarter.

About Global X Alternative Income ETF

The Global X Alternative Income ETF (ALTY) is an exchange-traded fund that is based on the Indxx SuperDividend Alternatives index. The fund tracks an index consisting of a variety of assets such as equity, debt securities and covered calls. Selected based on high dividend yield and low volatility. ALTY was launched on Jul 14, 2015 and is managed by Global X.