Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) Shares Down 0.5% – Here’s Why

Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) dropped 0.5% during trading on Thursday . The stock traded as low as $41.85 and last traded at $41.87. Approximately 6,125 shares were traded during trading, a decline of 61% from the average session volume of 15,557 shares. The stock had previously closed at $42.09.

Overlay Shares Hedged Large Cap Equity ETF Stock Performance

The stock’s 50-day simple moving average is $41.79 and its 200 day simple moving average is $40.22. The company has a market capitalization of $116.82 million, a PE ratio of 25.97 and a beta of 0.73.

Hedge Funds Weigh In On Overlay Shares Hedged Large Cap Equity ETF

A hedge fund recently raised its stake in Overlay Shares Hedged Large Cap Equity ETF stock. CoreCap Advisors LLC raised its holdings in Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) by 79.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,376 shares of the company’s stock after buying an additional 1,055 shares during the period. CoreCap Advisors LLC owned about 0.09% of Overlay Shares Hedged Large Cap Equity ETF worth $99,000 as of its most recent SEC filing.

Overlay Shares Hedged Large Cap Equity ETF Company Profile

The Overlay Shares Hedged Large Cap Equity ETF (OVLH) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed to provide exposure to the US large-cap space combined with an option overlay strategy, utilizing a put spread and long-term OTM put options. OVLH was launched on Jan 14, 2021 and is managed by Overlay Shares.