ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI) Shares Down 0.6% - Time to Sell?

Key Points

• ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI) saw a 0.6% decline in stock price, trading as low as $54.29 with a last traded price of $54.85.
• The fund announced a significant increase in its monthly dividend to $2.4856, raising its yield to 54.4%, up from the previous $0.85.
• A hedge fund, OLD Mission Capital LLC, acquired 16,361 shares of ETRACS Crude Oil Shares Covered Call ETN, representing approximately 2.87% ownership, valued at about $1,071,000.

ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI - Get Free Report)'s share price were down 0.6% during trading on Thursday . The company traded as low as $54.29 and last traded at $54.85. Approximately 38,979 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 63,002 shares. The stock had previously closed at $55.17.

ETRACS Crude Oil Shares Covered Call ETN Price Performance

The business has a 50 day simple moving average of $54.85 and a 200 day simple moving average of $57.57.

ETRACS Crude Oil Shares Covered Call ETN Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 22nd were paid a $2.4856 dividend. This is an increase from ETRACS Crude Oil Shares Covered Call ETN's previous monthly dividend of $0.85. This represents a c) dividend on an annualized basis and a yield of 56.0%. The ex-dividend date of this dividend was Tuesday, July 22nd.

Institutional Investors Weigh In On ETRACS Crude Oil Shares Covered Call ETN

A hedge fund recently raised its stake in ETRACS Crude Oil Shares Covered Call ETN stock. OLD Mission Capital LLC lifted its position in shares of ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI - Free Report) by 75.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,761 shares of the company's stock after acquiring an additional 12,400 shares during the quarter. OLD Mission Capital LLC owned approximately 0.54% of ETRACS Crude Oil Shares Covered Call ETN worth $1,764,000 at the end of the most recent reporting period.

About ETRACS Crude Oil Shares Covered Call ETN

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