Short Interest in X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) Drops By 65.4%

X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 349 shares, a drop of 65.4% from the August 15th total of 1,008 shares. Based on an average daily trading volume, of 1,267 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in X-Square Municipal Income Tax Free ETF stock. Jane Street Group LLC bought a new stake in shares of X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,620 shares of the company’s stock, valued at approximately $318,000. Jane Street Group LLC owned about 7.05% of X-Square Municipal Income Tax Free ETF as of its most recent SEC filing.

X-Square Municipal Income Tax Free ETF Stock Performance

Shares of ZTAX stock opened at $24.46 on Friday. The company has a 50 day moving average price of $25.29 and a 200 day moving average price of $25.46. X-Square Municipal Income Tax Free ETF has a fifty-two week low of $23.06 and a fifty-two week high of $28.65.

X-Square Municipal Income Tax Free ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Thursday, July 2nd were issued a $0.5476 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend was Thursday, July 2nd. This is a positive change from X-Square Municipal Income Tax Free ETF’s previous quarterly dividend of $0.06.

X-Square Municipal Income Tax Free ETF Company Profile

The X-Square Municipal Income Tax Free ETF (ZTAX) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that invests in USD-denominated municipal securities that are exempt from US federal, state, and local taxes. Securities could be of any maturity or credit quality issued by Puerto Rico, Guam and the US Virgin Islands. ZTAX was launched on May 19, 2023 and is managed by X-Square Capital.