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

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 14,037 shares, an increase of 148.5% from the April 15th total of 5,649 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 141,315 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Simplify High Yield ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Wealth LLC increased its holdings in Simplify High Yield ETF by 9.1% in the 1st quarter. NewEdge Wealth LLC now owns 368,211 shares of the company’s stock valued at $7,858,000 after purchasing an additional 30,768 shares during the last quarter. WealthCare Asset Management LLC acquired a new position in Simplify High Yield ETF in the first quarter valued at $359,000. Kestra Advisory Services LLC boosted its stake in Simplify High Yield ETF by 4.7% in the first quarter. Kestra Advisory Services LLC now owns 18,343 shares of the company’s stock valued at $391,000 after acquiring an additional 831 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Simplify High Yield ETF by 577.3% in the first quarter. Janney Montgomery Scott LLC now owns 71,939 shares of the company’s stock valued at $1,535,000 after acquiring an additional 61,317 shares in the last quarter. Finally, Realta Investment Advisors acquired a new stake in shares of Simplify High Yield ETF in the first quarter valued at approximately $172,000.

Simplify High Yield ETF Trading Down 0.2%

Shares of CDX stock traded down $0.05 during trading hours on Friday, reaching $21.22. 87,230 shares of the company’s stock were exchanged, compared to its average volume of 179,330. The stock has a market cap of $444.56 million, a PE ratio of 11.17 and a beta of 0.31. Simplify High Yield ETF has a 1 year low of $21.16 and a 1 year high of $23.38. The stock’s fifty day moving average price is $21.54 and its two-hundred day moving average price is $22.07.

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.