ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI) Stock Price Down 0.6% - Should You 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) traded down 0.6% on Thursday . The company traded as low as $54.29 and last traded at $54.85. 38,979 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 63,002 shares. The stock had previously closed at $55.17.

ETRACS Crude Oil Shares Covered Call ETN Price Performance

The stock has a fifty day moving average price of $54.86 and a two-hundred day moving average price of $57.80.

ETRACS Crude Oil Shares Covered Call ETN Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 22nd were issued a $2.4856 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 55.5%. This is a positive change from ETRACS Crude Oil Shares Covered Call ETN's previous monthly dividend of $0.85. The ex-dividend date of this dividend was Tuesday, July 22nd.

Hedge Funds Weigh In On ETRACS Crude Oil Shares Covered Call ETN

An institutional investor recently raised its position in ETRACS Crude Oil Shares Covered Call ETN stock. OLD Mission Capital LLC boosted its holdings in ETRACS Crude Oil Shares Covered Call ETN (NASDAQ:USOI - Free Report) by 75.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,761 shares of the company's stock after purchasing 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 as of its most recent filing with the Securities and Exchange Commission.

ETRACS Crude Oil Shares Covered Call ETN Company Profile

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