ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) Sees Significant Increase in Short Interest

ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 10,766 shares, a growth of 644.0% from the April 30th total of 1,447 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,350 shares, the days-to-cover ratio is currently 2.0 days.

ETC 6 Meridian Hedged Equity Index Option Strategy Price Performance

Shares of ETC 6 Meridian Hedged Equity Index Option Strategy stock opened at $41.82 on Friday. The firm has a market capitalization of $540.73 million, a PE ratio of 16.87 and a beta of 0.32. The company’s fifty day moving average price is $42.01 and its two-hundred day moving average price is $40.96. ETC 6 Meridian Hedged Equity Index Option Strategy has a 52-week low of $37.48 and a 52-week high of $43.32.

ETC 6 Meridian Hedged Equity Index Option Strategy Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 27th were issued a $0.0455 dividend. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 27th.

Institutional Investors Weigh In On ETC 6 Meridian Hedged Equity Index Option Strategy

Several institutional investors and hedge funds have recently bought and sold shares of SIXH. Jane Street Group LLC bought a new stake in ETC 6 Meridian Hedged Equity Index Option Strategy in the 1st quarter valued at $1,272,000. Raymond James Financial Inc. bought a new stake in ETC 6 Meridian Hedged Equity Index Option Strategy in the 2nd quarter valued at $74,000. HighTower Advisors LLC increased its holdings in ETC 6 Meridian Hedged Equity Index Option Strategy by 2.2% in the 3rd quarter. HighTower Advisors LLC now owns 12,221,580 shares of the company’s stock valued at $472,585,000 after buying an additional 263,500 shares during the period. Wealth Alliance Advisory Group LLC increased its holdings in ETC 6 Meridian Hedged Equity Index Option Strategy by 138.7% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 40,176 shares of the company’s stock valued at $1,578,000 after buying an additional 23,343 shares during the period. Finally, OLD Mission Capital LLC boosted its stake in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 99.2% in the 4th quarter. OLD Mission Capital LLC now owns 13,255 shares of the company’s stock valued at $521,000 after purchasing an additional 6,600 shares in the last quarter.

About ETC 6 Meridian Hedged Equity Index Option Strategy

The ETC 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund that provides exposure to US equities and sellscall options against SPY. SIXH was launched on May 11, 2020 and is managed by Meridian.