Short Interest in ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) Drops By 44.3%

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 3,140 shares, a decline of 44.3% from the March 15th total of 5,635 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 3,688 shares, the days-to-cover ratio is currently 0.9 days.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Stock Performance

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN stock traded up $0.03 during mid-day trading on Monday, hitting $8.00. 5,857 shares of the company were exchanged, compared to its average volume of 2,885. The business’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $8.37. ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN has a 12-month low of $7.41 and a 12-month high of $9.22.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Monday, April 13th will be given a dividend of $0.0407 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) annualized dividend and a yield of 6.1%.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Company Profile

The ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN (PFFL) is an exchange-traded fund that is based on the Solactive Preferred Stock ETF index. The fund tracks twice the monthly returns of a market-value-selected and -weighted index of preferred securities from various issuers. PFFL was launched on Sep 25, 2018 and is issued by ETRACS.