Sound Equity Dividend Income ETF (NYSEARCA:DIVY) Stock Price Up 0.1% – Here’s Why

Shares of Sound Equity Dividend Income ETF (NYSEARCA:DIVY) shot up 0.1% on Friday . The company traded as high as $31.23 and last traded at $31.19. Approximately 1,639 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 2,820 shares. The stock had previously closed at $31.17.

Sound Equity Dividend Income ETF Stock Up 0.1%

The stock has a market capitalization of $29.63 million, a price-to-earnings ratio of 15.13 and a beta of 0.66. The company has a 50 day simple moving average of $29.67 and a 200-day simple moving average of $28.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sound Equity Dividend Income ETF stock. Flow Traders U.S. LLC purchased a new position in Sound Equity Dividend Income ETF (NYSEARCA:DIVY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,653 shares of the company’s stock, valued at approximately $200,000. Flow Traders U.S. LLC owned 0.68% of Sound Equity Dividend Income ETF at the end of the most recent quarter.

About Sound Equity Dividend Income ETF

The Sound Equity Income ETF (DIVY) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed, narrow portfolio, of US large- and mid-cap stocks, fundamentally selected for capital appreciation and dividend yield. DIVY was launched on Dec 30, 2020 and is managed by Tidal.