ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) Sees Large Decline in Short Interest

Key Points

• Short interest for the ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) decreased by 67.9% in September, dropping from 85,300 shares to 27,400 shares.
• The firm announced a monthly dividend of $1.1751 per share, resulting in a 15.0% annualized dividend yield, with the payment date set for October 27th.
• Claris Financial LLC acquired a new stake of 19,530 shares in SLVO stock during the second quarter, valued at approximately $1.56 million, making it the 19th biggest holding in their portfolio.

ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO - ) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 27,400 shares, a decrease of 67.9% from the September 15th total of 85,300 shares. Based on an average daily trading volume, of 32,000 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 32,000 shares, the days-to-cover ratio is currently 0.9 days.

ETRACS Silver Shares Covered Call ETN Price Performance

SLVO stock opened at $94.20 on Friday. The firm has a 50-day simple moving average of $88.94 and a two-hundred day simple moving average of $83.04. ETRACS Silver Shares Covered Call ETN has a one year low of $72.60 and a one year high of $95.99.

ETRACS Silver Shares Covered Call ETN Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 27th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $1.1751 per share. The ex-dividend date is Wednesday, October 22nd. This represents a c) annualized dividend and a dividend yield of 15.0%.

Hedge Funds Weigh In On ETRACS Silver Shares Covered Call ETN

An institutional investor recently bought a new position in ETRACS Silver Shares Covered Call ETN stock. Claris Financial LLC acquired a new stake in shares of ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,530 shares of the company's stock, valued at approximately $1,564,000. ETRACS Silver Shares Covered Call ETN makes up approximately 1.2% of Claris Financial LLC's portfolio, making the stock its 19th biggest holding. Claris Financial LLC owned about 0.85% of ETRACS Silver Shares Covered Call ETN as of its most recent SEC filing.

ETRACS Silver Shares Covered Call ETN Company Profile

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