VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Sets New 12-Month High – Here’s Why

Shares of VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) hit a new 52-week high during trading on Tuesday. The company traded as high as $53.45 and last traded at $53.44, with a volume of 12363 shares traded. The stock had previously closed at $53.00.

VictoryShares WestEnd US Sector ETF Trading Down 0.1%

The firm’s fifty day simple moving average is $52.62 and its two-hundred day simple moving average is $50.46. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 59.90 and a beta of 0.94.

VictoryShares WestEnd US Sector ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 8th will be issued a $0.0223 dividend. This is a drop from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. This represents a $0.27 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, October 8th. VictoryShares WestEnd US Sector ETF’s payout ratio is currently 41.57%.

Institutional Investors Weigh In On VictoryShares WestEnd US Sector ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in shares of VictoryShares WestEnd US Sector ETF by 97.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 383,308 shares of the company’s stock worth $19,537,000 after purchasing an additional 189,095 shares during the period. Capital Analysts LLC raised its holdings in VictoryShares WestEnd US Sector ETF by 52.4% in the 2nd quarter. Capital Analysts LLC now owns 35,491 shares of the company’s stock valued at $1,809,000 after buying an additional 12,199 shares during the period. Concurrent Investment Advisors LLC raised its holdings in VictoryShares WestEnd US Sector ETF by 86.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,788 shares of the company’s stock valued at $703,000 after buying an additional 6,391 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in VictoryShares WestEnd US Sector ETF by 110.9% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 13,449 shares of the company’s stock valued at $601,000 after buying an additional 7,073 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in VictoryShares WestEnd US Sector ETF by 48,293.9% in the first quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock valued at $43,254,000 after buying an additional 965,878 shares during the last quarter. Institutional investors and hedge funds own 29.49% of the company’s stock.

VictoryShares WestEnd US Sector ETF Company Profile

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.