VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Sees Large Volume Increase After Dividend Announcement

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) saw an uptick in trading volume on Wednesday after the company announced a dividend. Approximately 149,261 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 73,980 shares. The stock last traded at $53.29 and had previously closed at $53.35.

The newly announced dividend which will be paid on Friday, October 9th. Stockholders of record on Thursday, October 8th will be given a dividend of $0.0223 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 0.5%. This is a drop from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. The ex-dividend date of this dividend is Thursday, October 8th. VictoryShares WestEnd US Sector ETF’s dividend payout ratio is 41.57%.

VictoryShares WestEnd US Sector ETF Stock Performance

The firm has a fifty day simple moving average of $52.67 and a 200 day simple moving average of $50.52. The company has a market capitalization of $1.07 billion, a PE ratio of 59.53 and a beta of 0.94.

Institutional Investors Weigh In On VictoryShares WestEnd US Sector ETF

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new stake in VictoryShares WestEnd US Sector ETF in the first quarter worth about $208,000. Pine Valley Investments Ltd Liability Co increased its holdings in shares of VictoryShares WestEnd US Sector ETF by 110.9% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 13,449 shares of the company’s stock valued at $601,000 after acquiring an additional 7,073 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of VictoryShares WestEnd US Sector ETF by 86.4% during the second quarter. Concurrent Investment Advisors LLC now owns 13,788 shares of the company’s stock valued at $703,000 after acquiring an additional 6,391 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of VictoryShares WestEnd US Sector ETF by 5.3% in the 1st quarter. Arkadios Wealth Advisors now owns 22,611 shares of the company’s stock valued at $1,010,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of VictoryShares WestEnd US Sector ETF by 10.0% in the 1st quarter. Private Advisor Group LLC now owns 23,890 shares of the company’s stock valued at $1,068,000 after purchasing an additional 2,176 shares during the last quarter. 29.49% of the stock is currently owned by hedge funds and other institutional investors.

About VictoryShares WestEnd US Sector ETF

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.