NEOS S&P 500 High Income ETF (BATS:SPYI) Stock Breaks Above 200-Day Moving Average – Here’s Why

NEOS S&P 500 High Income ETF (BATS:SPYI)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $52.71 and traded as high as $53.13. NEOS S&P 500 High Income ETF shares last traded at $53.01, with a volume of 3,759,369 shares.

NEOS S&P 500 High Income ETF Stock Performance

The stock has a 50-day moving average price of $53.32 and a 200-day moving average price of $52.69. The stock has a market cap of $4.24 billion, a P/E ratio of 25.58 and a beta of 0.71.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Foguth Wealth Management LLC. raised its position in NEOS S&P 500 High Income ETF by 927.5% in the 1st quarter. Foguth Wealth Management LLC. now owns 1,214,307 shares of the company’s stock worth $65,439,000 after buying an additional 1,096,123 shares during the last quarter. Gradient Investments LLC bought a new position in NEOS S&P 500 High Income ETF in the 3rd quarter worth approximately $58,239,000. Howard Capital Management LLC increased its holdings in NEOS S&P 500 High Income ETF by 7.5% in the 3rd quarter. Howard Capital Management LLC now owns 1,073,896 shares of the company’s stock valued at $57,099,000 after acquiring an additional 75,281 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of NEOS S&P 500 High Income ETF by 14.5% in the first quarter. Royal Bank of Canada now owns 1,061,491 shares of the company’s stock worth $52,406,000 after purchasing an additional 134,250 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of NEOS S&P 500 High Income ETF by 62.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 709,315 shares of the company’s stock worth $37,658,000 after acquiring an additional 273,777 shares in the last quarter.

About NEOS S&P 500 High Income ETF

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.