Simplify High Yield ETF (NYSEARCA:CDX) Short Interest Up 1,570.1% in August

Simplify High Yield ETF (NYSEARCA:CDX) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 7,432 shares, an increase of 1,570.1% from the July 30th total of 445 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 117,688 shares, the short-interest ratio is presently 0.1 days.

Simplify High Yield ETF Trading Up 0.4%

CDX stock traded up $0.08 during mid-day trading on Tuesday, reaching $20.81. 77,025 shares of the stock traded hands, compared to its average volume of 165,529. Simplify High Yield ETF has a 52-week low of $20.42 and a 52-week high of $23.05. The stock’s fifty day moving average is $20.88 and its 200-day moving average is $21.31. The company has a market cap of $379.37 million, a P/E ratio of 11.17 and a beta of 0.30.

Institutional Investors Weigh In On Simplify High Yield ETF

Hedge funds have recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in Simplify High Yield ETF during the 4th quarter valued at about $7,109,000. Orion Porfolio Solutions LLC lifted 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 worth $7,093,000 after purchasing an additional 295,869 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Simplify High Yield ETF by 177.2% in the fourth quarter. Drive Wealth Management LLC now owns 372,252 shares of the company’s stock worth $8,290,000 after purchasing an additional 237,952 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Simplify High Yield ETF during the fourth quarter valued at approximately $4,935,000. Finally, NewEdge Advisors LLC purchased a new stake in Simplify High Yield ETF in the 3rd quarter worth approximately $4,809,000.

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.