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

Key Points

• Short interest plunged 92.7% to 456 shares as of October 30, from 6,273 shares two weeks earlier; the reported short share of the float was approximately 0.0%.
• GLDI raised its monthly dividend to $2.6477 per share, equivalent to a stated annualized yield of 23.2%; the dividend payout ratio was 205.19%.
• Shares fell 1.6% to $137.10 in Tuesday trading. Claris Financial increased its stake by 20.1% in the first quarter, while institutional investors and hedge funds held 36.97% of the shares.

ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 456 shares, a decrease of 92.7% from the October 15th total of 6,273 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 58,980 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of ETRACS Gold Shares Covered Call ETN

A hedge fund recently raised its position in ETRACS Gold Shares Covered Call ETN stock. Claris Financial LLC increased its stake in shares of ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,079 shares of the company's stock after buying an additional 1,353 shares during the quarter. Claris Financial LLC owned about 0.81% of ETRACS Gold Shares Covered Call ETN worth $1,341,000 at the end of the most recent reporting period. 36.97% of the stock is owned by institutional investors and hedge funds.

ETRACS Gold Shares Covered Call ETN Trading Down 1.6%

Shares of NASDAQ:GLDI traded down $2.27 during trading on Tuesday, reaching $137.10. 41,480 shares of the stock were exchanged, compared to its average volume of 54,291. ETRACS Gold Shares Covered Call ETN has a 12 month low of $131.31 and a 12 month high of $183.61. The stock has a 50-day moving average price of $141.97 and a 200-day moving average price of $156.43. The firm has a market cap of $137.10 million, a PE ratio of 175.82 and a beta of 0.15.

ETRACS Gold Shares Covered Call ETN Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 20th will be paid a $2.6477 dividend. This represents a $31.77 annualized dividend and a dividend yield of 23.2%. This is a boost from ETRACS Gold Shares Covered Call ETN's previous monthly dividend of $1.9854. The ex-dividend date is Friday, November 20th. ETRACS Gold Shares Covered Call ETN's dividend payout ratio is currently 205.19%.

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. they also have concessions in john lewis stores nationwide and in david jones, australia. in 2011 hotel chocolat opened a boutique hotel in the grounds of rabot estate on saint lucia, which is also home to boucan restaurant and its pioneering menu of ‘cacao cuisine'. in 2013 hotel chocolat opened two cocoa cuisine restaurants inspired by boucan - rabot 1745 in london's borough market and roast+conch in leeds. both restaurants reconnect the world of cocoa growing with the luxury of eating it. rec

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