ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI) Sees Significant Drop in Short Interest

Key Points

• ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI) experienced a significant drop in short interest by 46.8% in July, with current short interest totaling 10,700 shares.
• The stock price of GLDI decreased by 0.2% to $159.73, with a market cap of $111.81 million and a PE ratio of 204.84.
• The company announced a dividend of $1.3444 per share, scheduled to be paid on August 26th, with a high dividend payout ratio of 205.19%.

ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Get Free Report) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 10,700 shares, adropof46.8% from the July 15th total of 20,100 shares. Approximately1.5% of the shares of the stock are sold short. Based on an average trading volume of 9,000 shares, the short-interest ratio is presently 1.2 days. Based on an average trading volume of 9,000 shares, the short-interest ratio is presently 1.2 days. Approximately1.5% of the shares of the stock are sold short.

ETRACS Gold Shares Covered Call ETN Stock Up 0.8%

Shares of GLDI traded up $1.32 during trading hours on Friday, reaching $159.97. 11,015 shares of the company traded hands, compared to its average volume of 7,641. The stock has a market capitalization of $111.98 million, a PE ratio of 205.15 and a beta of 0.10. ETRACS Gold Shares Covered Call ETN has a fifty-two week low of $150.02 and a fifty-two week high of $166.79. The stock has a fifty day simple moving average of $160.23 and a 200 day simple moving average of $160.48.

ETRACS Gold Shares Covered Call ETN Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, August 20th will be issued a $1.3444 dividend. The ex-dividend date is Wednesday, August 20th. ETRACS Gold Shares Covered Call ETN's payout ratio is 205.19%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ETRACS Gold Shares Covered Call ETN stock. Jaffetilchin Investment Partners LLC raised its holdings in ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Free Report) by 151.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,821 shares of the company's stock after acquiring an additional 2,300 shares during the period. Jaffetilchin Investment Partners LLC owned 0.55% of ETRACS Gold Shares Covered Call ETN worth $618,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.97% of the company's stock.

About ETRACS Gold Shares Covered Call ETN

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.