YieldMax COIN Option Income Strategy ETF (NYSEARCA:CONY) Shares Down 8.5% – Time to Sell?

YieldMax COIN Option Income Strategy ETF (NYSEARCA:CONY) dropped 8.5% during trading on Thursday . The stock traded as low as $4.41 and last traded at $4.3540. Approximately 13,001,627 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 11,539,829 shares. The stock had previously closed at $4.76.

YieldMax COIN Option Income Strategy ETF Stock Performance

The business has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $7.63.

YieldMax COIN Option Income Strategy ETF’s stock is going to reverse split before the market opens on Tuesday, December 2nd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 1st.

YieldMax COIN Option Income Strategy ETF Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, November 21st. Investors of record on Thursday, November 20th will be given a $0.0932 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a yield of 7,513.0%.

Institutional Investors Weigh In On YieldMax COIN Option Income Strategy ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in CONY. ORG Partners LLC acquired a new stake in shares of YieldMax COIN Option Income Strategy ETF in the third quarter valued at about $26,000. Sound Income Strategies LLC bought a new position in YieldMax COIN Option Income Strategy ETF in the second quarter valued at approximately $37,000. Arkadios Wealth Advisors bought a new position in YieldMax COIN Option Income Strategy ETF in the third quarter valued at approximately $91,000. OLD Mission Capital LLC acquired a new position in shares of YieldMax COIN Option Income Strategy ETF during the 1st quarter worth approximately $148,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of YieldMax COIN Option Income Strategy ETF during the 3rd quarter worth approximately $202,000.

About YieldMax COIN Option Income Strategy ETF

The YieldMax COIN Option Income Strategy ETF (CONY) is an exchange-traded fund that mostly invests in financials equity. The fund seeks to provide current income and capped gains on the Coinbase Global Inc stock (COIN) through a synthetic covered call strategy, collateralized by cash and US Treasurys CONY was launched on Aug 14, 2023 and is issued by YieldMax.