X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) Sees Large Decline in Short Interest

X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 1,036 shares, a decline of 37.7% from the September 30th total of 1,663 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,512 shares, the short-interest ratio is currently 0.7 days.

X-Square Municipal Income Tax Free ETF Price Performance

Shares of ZTAX stock opened at $24.48 on Tuesday. X-Square Municipal Income Tax Free ETF has a 12-month low of $21.26 and a 12-month high of $28.65. The business has a 50 day simple moving average of $24.31 and a 200 day simple moving average of $25.20.

X-Square Municipal Income Tax Free ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Friday, October 2nd were paid a $0.0464 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This is a negative change from X-Square Municipal Income Tax Free ETF’s previous quarterly dividend of $0.5476. This represents a $0.19 annualized dividend and a dividend yield of 0.8%.

About X-Square Municipal Income Tax Free ETF

The X-Square Municipal Income Tax Free ETF (ZTAX) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that invests in USD-denominated municipal securities that are exempt from US federal, state, and local taxes. Securities could be of any maturity or credit quality issued by Puerto Rico, Guam and the US Virgin Islands. ZTAX was launched on May 19, 2023 and is managed by X-Square Capital.