ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI) Sees Large Decline in Short Interest

Key Points

• Short interest plunged 89.6% to 642 shares as of July 31, representing roughly 0.1% of GLDI’s shares and a days-to-cover ratio of 0.0.
• GLDI shares recently traded at $149.04, near the middle of their 52-week range, with trading volume exceeding its average.
• The ETN raised its monthly dividend to $1.8496 per share, implying a 14.9% annualized yield, although its payout ratio is unusually high at 205.19%.

ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - ) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 642 shares, a drop of 89.6% from the July 15th total of 6,181 shares. Approximately 0.1% of the company's shares are short sold. Based on an average daily volume of 62,687 shares, the days-to-cover ratio is currently 0.0 days.

ETRACS Gold Shares Covered Call ETN Price Performance

Shares of ETRACS Gold Shares Covered Call ETN stock traded up $0.49 during trading on Wednesday, hitting $149.04. 71,820 shares of the company were exchanged, compared to its average volume of 36,293. The firm has a market capitalization of $149.04 million, a P/E ratio of 191.13 and a beta of 0.14. The firm's fifty day moving average price is $145.65 and its 200 day moving average price is $162.22. ETRACS Gold Shares Covered Call ETN has a 1-year low of $138.40 and a 1-year high of $183.61.

ETRACS Gold Shares Covered Call ETN Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.8496 per share. This is a boost from ETRACS Gold Shares Covered Call ETN's previous monthly dividend of $1.59. This represents a c) annualized dividend and a yield of 14.9%. The ex-dividend date is Thursday, August 20th. ETRACS Gold Shares Covered Call ETN's dividend payout ratio is presently 205.19%.

Institutional Investors Weigh In On ETRACS Gold Shares Covered Call ETN

A hedge fund recently bought a new stake in ETRACS Gold Shares Covered Call ETN stock. Claris Financial LLC purchased a new position in shares of ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,726 shares of the company's stock, valued at approximately $1,169,000. Claris Financial LLC owned 0.96% of ETRACS Gold Shares Covered Call ETN at the end of the most recent reporting period. Institutional investors and hedge funds own 36.97% of the company's stock.

ETRACS Gold Shares Covered Call ETN Company Profile

luxury british cocoa grower and chocolatier, hotel chocolat, was founded in 2004 to make exciting chocolate with three guiding principles – authenticity, originality and ethics – which remain central to the brand's success today. with its rabot estate cocoa plantation in saint lucia, a chocolate manufacturing facility in cambridgeshire and stores across the uk and internationally, hotel chocolat occupies a unique space – being able to link all aspects of chocolate from the tree to the consumer. they also have concessions in john lewis stores nationwide and in david jones, australia.

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