Short Interest in NEOS S&P 500 High Income ETF (BATS:SPYI) Rises By 217.8%

NEOS S&P 500 High Income ETF (BATS:SPYI) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 2,882,262 shares, an increase of 217.8% from the June 30th total of 906,901 shares. Based on an average daily trading volume, of 2,186,107 shares, the days-to-cover ratio is currently 1.3 days. Currently, 3.5% of the shares of the stock are sold short.

NEOS S&P 500 High Income ETF Stock Performance

BATS:SPYI opened at $52.30 on Friday. The company has a 50-day moving average of $53.15 and a 200-day moving average of $52.34. NEOS S&P 500 High Income ETF has a 52 week low of $47.77 and a 52 week high of $54.11. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 25.58 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPYI. Pacific Point Advisors LLC acquired a new stake in NEOS S&P 500 High Income ETF during the 4th quarter worth $1,158,000. CCG Wealth Management LLC acquired a new position in shares of NEOS S&P 500 High Income ETF in the 4th quarter valued at $778,000. Capital Investment Advisory Services LLC lifted its stake in shares of NEOS S&P 500 High Income ETF by 53.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 154,527 shares of the company’s stock valued at $8,117,000 after purchasing an additional 54,021 shares during the period. Bay Capital Advisors LLC bought a new position in shares of NEOS S&P 500 High Income ETF in the 4th quarter worth $803,000. Finally, BCS Wealth Management boosted its position in shares of NEOS S&P 500 High Income ETF by 157.0% in the 4th quarter. BCS Wealth Management now owns 20,030 shares of the company’s stock worth $1,052,000 after purchasing an additional 12,237 shares during the last quarter.

NEOS S&P 500 High Income ETF Company Profile

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.