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

X-Square Municipal Income Tax Free ETF (NYSEARCA:ZTAX) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1,663 shares, a decrease of 64.6% from the September 15th total of 4,702 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,661 shares, the short-interest ratio is currently 0.6 days.

X-Square Municipal Income Tax Free ETF Price Performance

Shares of ZTAX traded up $2.23 during mid-day trading on Tuesday, reaching $23.49. 1,635 shares of the company were exchanged, compared to its average volume of 2,388. The business has a 50 day simple moving average of $24.77 and a two-hundred day simple moving average of $25.23. X-Square Municipal Income Tax Free ETF has a 52 week low of $21.26 and a 52 week high of $28.65.

X-Square Municipal Income Tax Free ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Friday, October 2nd were given a dividend of $0.0464 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.19 dividend on an annualized basis and a yield of 0.8%. This is a drop from X-Square Municipal Income Tax Free ETF’s previous quarterly dividend of $0.5476.

X-Square Municipal Income Tax Free ETF Company Profile

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.