Fairlead Tactical Sector ETF (NYSEARCA:TACK) Short Interest Down 66.3% in August

Fairlead Tactical Sector ETF (NYSEARCA:TACK) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 5,466 shares, a drop of 66.3% from the July 30th total of 16,214 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 11,352 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Fairlead Tactical Sector ETF by 118.2% in the 4th quarter. Royal Bank of Canada now owns 4,036 shares of the company’s stock worth $121,000 after purchasing an additional 2,186 shares in the last quarter. Comerica Bank bought a new stake in Fairlead Tactical Sector ETF during the 3rd quarter valued at about $239,000. Fifth Third Bancorp purchased a new position in Fairlead Tactical Sector ETF in the first quarter worth about $272,000. First Foundation Advisors bought a new position in shares of Fairlead Tactical Sector ETF in the third quarter worth approximately $275,000. Finally, Laurel Oak Wealth Management LLC bought a new position in shares of Fairlead Tactical Sector ETF in the first quarter worth approximately $480,000.

Fairlead Tactical Sector ETF Price Performance

NYSEARCA:TACK traded down $0.15 during mid-day trading on Friday, hitting $32.60. 17,542 shares of the company’s stock were exchanged, compared to its average volume of 22,373. Fairlead Tactical Sector ETF has a one year low of $28.68 and a one year high of $33.03. The business has a fifty day moving average price of $32.07 and a 200 day moving average price of $31.39. The company has a market cap of $295.68 million, a PE ratio of 17.28 and a beta of 0.50.

About Fairlead Tactical Sector ETF

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.