Simplify High Yield ETF (NYSEARCA:CDX) Sees Large Decrease in Short Interest

Simplify High Yield ETF (NYSEARCA:CDX) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 901 shares, a decrease of 87.9% from the August 15th total of 7,432 shares. Based on an average daily volume of 156,019 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Simplify High Yield ETF Price Performance

CDX stock traded up $0.04 during trading on Friday, hitting $20.52. The stock had a trading volume of 78,789 shares, compared to its average volume of 161,201. Simplify High Yield ETF has a twelve month low of $20.42 and a twelve month high of $23.05. The company’s 50-day moving average price is $20.74 and its two-hundred day moving average price is $21.19. The stock has a market capitalization of $373.99 million, a P/E ratio of 11.17 and a beta of 0.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC grew its position in shares of Simplify High Yield ETF by 1,306.2% in the fourth quarter. Orion Porfolio Solutions LLC now owns 318,520 shares of the company’s stock valued at $7,093,000 after purchasing an additional 295,869 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Simplify High Yield ETF during the fourth quarter worth $4,935,000. NewEdge Advisors LLC purchased a new stake in Simplify High Yield ETF in the 3rd quarter valued at $4,809,000. Osaic Holdings Inc. increased its position in Simplify High Yield ETF by 230.1% during the fourth quarter. Osaic Holdings Inc. now owns 279,015 shares of the company’s stock worth $6,214,000 after purchasing an additional 194,490 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Simplify High Yield ETF by 421.0% in the 4th quarter. Jane Street Group LLC now owns 204,107 shares of the company’s stock valued at $4,545,000 after purchasing an additional 164,930 shares during the last quarter.

Simplify High Yield ETF Company Profile

The Simplify High Yield PLUS Credit Hedge ETF (CDX) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is a fund-of-funds that invests in US high-yield bond ETFs with different maturities. It also provides a credit hedge overlay, which may contain S&P 500 Index (SPX) puts. CDX was launched on Feb 14, 2022 and is managed by Simplify.