YieldMax Ultra Option Income Strategy ETF (NYSEARCA:ULTY) Hits New 52-Week Low – Here’s Why

YieldMax Ultra Option Income Strategy ETF (NYSEARCA:ULTY) reached a new 52-week low on Thursday . The stock traded as low as $36.22 and last traded at $36.1950, with a volume of 570211 shares trading hands. The stock had previously closed at $37.15.

YieldMax Ultra Option Income Strategy ETF Trading Down 1.5%

The stock has a market capitalization of $1.19 billion, a PE ratio of 40.09 and a beta of 1.74. The stock has a 50 day moving average price of $38.45 and a 200-day moving average price of $49.07.

YieldMax Ultra Option Income Strategy ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, January 29th. Shareholders of record on Wednesday, January 28th were paid a dividend of $0.4705 per share. This represents a dividend yield of 7,028.0%. The ex-dividend date was Wednesday, January 28th.

Hedge Funds Weigh In On YieldMax Ultra Option Income Strategy ETF

Several institutional investors have recently made changes to their positions in ULTY. Nations Financial Group Inc. IA ADV purchased a new position in shares of YieldMax Ultra Option Income Strategy ETF in the third quarter worth approximately $66,000. North Star Asset Management Inc. bought a new position in YieldMax Ultra Option Income Strategy ETF in the third quarter worth approximately $136,000. SG Americas Securities LLC bought a new position in YieldMax Ultra Option Income Strategy ETF in the third quarter worth approximately $656,000. Finally, One Capital Management LLC purchased a new position in shares of YieldMax Ultra Option Income Strategy ETF during the 3rd quarter worth $1,108,000.

About YieldMax Ultra Option Income Strategy ETF

The YieldMax Ultra Option Income Strategy ETF (ULTY) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking to provide monthly income through a portfolio of covered call strategies. The fund generates income via option premiums, dividends from directly held US stocks, and US treasuries ULTY was launched on Feb 28, 2024 and is issued by YieldMax.