Short Interest in Global X S&P 500 Risk Managed Income ETF (NYSEARCA:XRMI) Drops By 70.2%

Global X S&P 500 Risk Managed Income ETF (NYSEARCA:XRMI) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 6,226 shares, a drop of 70.2% from the April 30th total of 20,871 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,098 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Global X S&P 500 Risk Managed Income ETF

Institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp purchased a new position in shares of Global X S&P 500 Risk Managed Income ETF in the 3rd quarter worth approximately $250,000. Founders Financial Alliance LLC boosted its holdings in shares of Global X S&P 500 Risk Managed Income ETF by 22.1% in the 3rd quarter. Founders Financial Alliance LLC now owns 47,428 shares of the company’s stock worth $839,000 after purchasing an additional 8,597 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Global X S&P 500 Risk Managed Income ETF by 10.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 129,357 shares of the company’s stock worth $2,287,000 after purchasing an additional 12,097 shares during the period. Brookwood Investment Group LLC boosted its holdings in shares of Global X S&P 500 Risk Managed Income ETF by 49.3% in the 4th quarter. Brookwood Investment Group LLC now owns 60,553 shares of the company’s stock worth $1,082,000 after purchasing an additional 19,988 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of Global X S&P 500 Risk Managed Income ETF by 24.9% in the 1st quarter. Cetera Investment Advisers now owns 188,730 shares of the company’s stock worth $3,190,000 after purchasing an additional 37,678 shares during the period.

Global X S&P 500 Risk Managed Income ETF Stock Down 0.1%

NYSEARCA XRMI traded down $0.01 during trading on Friday, hitting $17.25. 5,103 shares of the stock traded hands, compared to its average volume of 19,291. The company has a market capitalization of $48.99 million, a P/E ratio of 25.29 and a beta of 0.35. The firm has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $17.59. Global X S&P 500 Risk Managed Income ETF has a 12-month low of $16.73 and a 12-month high of $18.08.

About Global X S&P 500 Risk Managed Income ETF

The Global X S&P 500 Risk Managed Income ETF (XRMI) is an exchange-traded fund that is based on the Cboe S&P 500 Risk Managed Income index. The fund tracks an index that holds S&P 500 stocks combined with an options collar strategy. The fund buys 5% OTM put options and sells ATM covered call options on a monthly basis. XRMI was launched on Aug 25, 2021 and is managed by Global X.