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

Key Points

• Short interest surged 367.1% to 6,273 shares as of October 15, up from 1,343 shares at the end of September. Despite the increase, only 0.6% of shares were sold short, with a 0.1-day short-interest ratio.
• GLDI opened at $136.92, near its 52-week low of $134.28 and below its 50-day and 200-day moving averages of $144.66 and $158.36, respectively.
• The ETN reduced its monthly dividend to $1.9854 from $2.4852, resulting in an annualized yield of 17.4%; its dividend payout ratio stood at 205.19%. Institutional investors and hedge funds owned 36.97% of the shares.

ETRACS Gold Shares Covered Call ETN (NASDAQ:GLDI - ) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 6,273 shares, a growth of 367.1% from the September 30th total of 1,343 shares. Based on an average daily volume of 122,864 shares, the short-interest ratio is currently 0.1 days. Currently, 0.6% of the shares of the stock are short sold.

ETRACS Gold Shares Covered Call ETN Stock Performance

ETRACS Gold Shares Covered Call ETN stock opened at $136.92 on Wednesday. ETRACS Gold Shares Covered Call ETN has a 52 week low of $134.28 and a 52 week high of $183.61. The stock has a market capitalization of $136.92 million, a P/E ratio of 175.59 and a beta of 0.15. The stock has a fifty day moving average of $144.66 and a 200-day moving average of $158.36.

ETRACS Gold Shares Covered Call ETN Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, October 26th. Shareholders of record on Wednesday, October 21st were given a $1.9854 dividend. This is a drop from ETRACS Gold Shares Covered Call ETN's previous monthly dividend of $2.4852. This represents a $23.82 dividend on an annualized basis and a yield of 17.4%. The ex-dividend date was Wednesday, October 21st. ETRACS Gold Shares Covered Call ETN's dividend payout ratio (DPR) is presently 205.19%.

Institutional Inflows and Outflows

A hedge fund recently raised its position in ETRACS Gold Shares Covered Call ETN stock. Claris Financial LLC raised its stake in 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 period. Claris Financial LLC owned 0.81% of ETRACS Gold Shares Covered Call ETN worth $1,341,000 at the end of the most recent quarter. 36.97% of the stock is currently owned by institutional investors and hedge funds.

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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