Madison Aggregate Bond ETF (NYSEARCA:MAGG) Sees Large Decline in Short Interest

Madison Aggregate Bond ETF (NYSEARCA:MAGG) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 4,897 shares, a decrease of 84.9% from the March 31st total of 32,365 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 2,784 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in Madison Aggregate Bond ETF in the first quarter worth approximately $480,000. Tidal Investments LLC raised its holdings in Madison Aggregate Bond ETF by 512.7% in the 2nd quarter. Tidal Investments LLC now owns 99,685 shares of the company’s stock valued at $2,030,000 after buying an additional 83,416 shares during the period. Finally, Royal Bank of Canada raised its holdings in Madison Aggregate Bond ETF by 22.5% in the 1st quarter. Royal Bank of Canada now owns 262,902 shares of the company’s stock valued at $5,339,000 after buying an additional 48,369 shares during the period.

Madison Aggregate Bond ETF Price Performance

MAGG stock traded up $0.02 during trading on Friday, reaching $20.41. 4,231 shares of the stock were exchanged, compared to its average volume of 6,223. The business has a 50 day moving average price of $20.49 and a 200-day moving average price of $20.55. Madison Aggregate Bond ETF has a 1 year low of $19.96 and a 1 year high of $20.96.

Madison Aggregate Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.0446 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a c) dividend on an annualized basis and a yield of 2.6%.

About Madison Aggregate Bond ETF

The Madison Aggregate Bond ETF (MAGG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that seeks to generate superior long-term risk adjusted performance through investments in US investment-grade bonds. The fund maintains an intermediate average portfolio duration but may include securities of any maturity. MAGG was launched on Aug 29, 2023 and is issued by Madison.