Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) Trading Down 1.4% – What’s Next?

Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL)’s stock price fell 1.4% on Wednesday . The stock traded as low as $51.37 and last traded at $51.42. 25,512 shares changed hands during trading, an increase of 7% from the average session volume of 23,910 shares. The stock had previously closed at $52.16.

Overlay Shares Large Cap Equity ETF Stock Down 1.5%

The company has a 50 day moving average price of $53.28 and a 200-day moving average price of $52.82. The company has a market cap of $172.54 million, a price-to-earnings ratio of 24.33 and a beta of 1.15.

Overlay Shares Large Cap Equity ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.4655 per share. This represents a $1.86 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, February 25th.

Hedge Funds Weigh In On Overlay Shares Large Cap Equity ETF

Several large investors have recently modified their holdings of OVL. Janney Montgomery Scott LLC lifted its holdings in shares of Overlay Shares Large Cap Equity ETF by 5.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,921 shares of the company’s stock worth $2,018,000 after purchasing an additional 1,969 shares during the period. Nicolet Bankshares Inc. bought a new position in Overlay Shares Large Cap Equity ETF during the 2nd quarter worth $214,000. Finally, CoreCap Advisors LLC bought a new position in Overlay Shares Large Cap Equity ETF during the 3rd quarter worth $57,000.

Overlay Shares Large Cap Equity ETF Company Profile

The Overlay Shares Large Cap Equity ETF (OVL) is an exchange-traded fund that is based on the S&P 500 index. The fund is actively managed to provide exposure to large cap U.S. equities combined with a put spread option overlay strategy. OVL was launched on Sep 30, 2019 and is managed by Overlay Shares.