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

Key Points

• Short interest surged 441.6% in August to 14,700 shares, though only about 1.5% of GLDI’s shares are short and the days-to-cover ratio remains low at 0.2 days.
• Claris Financial LLC established a new position of 6,726 shares valued at approximately $1.17 million. Institutional investors and hedge funds collectively own 36.97% of the stock.
• GLDI shares recently traded at $148, while the fund increased its monthly dividend to $2.4852 from $1.85, representing a reported 20.2% yield; its dividend payout ratio is 205.19%.

ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - ) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 14,700 shares, an increase of 441.6% from the August 15th total of 2,714 shares. Based on an average trading volume of 77,258 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in ETRACS Gold Shares Covered Call ETN stock. Claris Financial LLC bought a new stake in ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 36.97% of the company's stock.

ETRACS Gold Shares Covered Call ETN Stock Performance

Shares of NASDAQ GLDI traded up $0.80 during trading on Friday, reaching $148.00. The company had a trading volume of 19,541 shares, compared to its average volume of 42,664. ETRACS Gold Shares Covered Call ETN has a 52 week low of $138.40 and a 52 week high of $183.61. The stock has a market cap of $148.00 million, a PE ratio of 189.67 and a beta of 0.15. The business's 50 day moving average price is $146.02 and its 200-day moving average price is $157.70.

ETRACS Gold Shares Covered Call ETN Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 22nd will be issued a $2.4852 dividend. This is an increase from ETRACS Gold Shares Covered Call ETN's previous monthly dividend of $1.85. This represents a c) dividend on an annualized basis and a dividend yield of 20.2%. The ex-dividend date of this dividend is Tuesday, September 22nd. ETRACS Gold Shares Covered Call ETN's dividend payout ratio (DPR) is 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.

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