VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Stock Short Interest Drops 37.1%

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 19,808 shares, a decrease of 37.1% from the September 15th total of 31,478 shares. Based on an average trading volume of 36,416 shares, the short-interest ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On VictoryShares WestEnd US Sector ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODL. Bank of America Corp DE raised its position in shares of VictoryShares WestEnd US Sector ETF by 48,293.9% in the 1st quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock worth $43,254,000 after purchasing an additional 965,878 shares during the last quarter. Envestnet Asset Management Inc. grew its position in 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 valued at $19,537,000 after purchasing an additional 189,095 shares during the last quarter. Royal Bank of Canada grew its position in VictoryShares WestEnd US Sector ETF by 29.5% during the 1st quarter. Royal Bank of Canada now owns 472,306 shares of the company’s stock valued at $21,107,000 after purchasing an additional 107,520 shares during the last quarter. Fairvoy Private Wealth LLC purchased a new stake in VictoryShares WestEnd US Sector ETF during the 1st quarter valued at about $3,266,000. Finally, Rockefeller Capital Management L.P. increased its stake in VictoryShares WestEnd US Sector ETF by 5.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 539,939 shares of the company’s stock valued at $25,658,000 after purchasing an additional 30,182 shares in the last quarter. Hedge funds and other institutional investors own 29.49% of the company’s stock.

VictoryShares WestEnd US Sector ETF Stock Performance

Shares of MODL traded down $0.62 on Friday, reaching $52.53. The stock had a trading volume of 24,398 shares, compared to its average volume of 73,385. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 59.02 and a beta of 0.94. The company has a 50-day simple moving average of $52.77 and a 200-day simple moving average of $50.84. VictoryShares WestEnd US Sector ETF has a 12-month low of $43.38 and a 12-month high of $53.45.

VictoryShares WestEnd US Sector ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 8th were issued a $0.0223 dividend. This represents a $0.27 dividend on an annualized basis and a yield of 0.5%. This is a negative change from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. The ex-dividend date was Thursday, October 8th. VictoryShares WestEnd US Sector ETF’s dividend payout ratio is currently 39.33%.

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.