Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) Trading Down 0.5% – Time to Sell?

Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) dropped 0.5% during mid-day trading on Thursday . The stock traded as low as $41.85 and last traded at $41.87. 6,125 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 15,557 shares. The stock had previously closed at $42.09.

Overlay Shares Hedged Large Cap Equity ETF Stock Performance

The company has a 50 day moving average of $41.79 and a 200 day moving average of $40.22. The stock has a market capitalization of $116.82 million, a price-to-earnings ratio of 25.97 and a beta of 0.73.

Hedge Funds Weigh In On Overlay Shares Hedged Large Cap Equity ETF

An institutional investor recently raised its stake in Overlay Shares Hedged Large Cap Equity ETF stock. CoreCap Advisors LLC increased its position in shares of Overlay Shares Hedged Large Cap Equity ETF (NYSEARCA:OVLH) by 79.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,376 shares of the company’s stock after buying an additional 1,055 shares during the period. CoreCap Advisors LLC owned about 0.09% of Overlay Shares Hedged Large Cap Equity ETF worth $99,000 at the end of the most recent reporting period.

About Overlay Shares Hedged Large Cap Equity ETF

The Overlay Shares Hedged Large Cap Equity ETF (OVLH) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed to provide exposure to the US large-cap space combined with an option overlay strategy, utilizing a put spread and long-term OTM put options. OVLH was launched on Jan 14, 2021 and is managed by Overlay Shares.