Fairlead Tactical Sector ETF (NYSEARCA:TACK) Stock Short Interest Declines 42.4%

Fairlead Tactical Sector ETF (NYSEARCA:TACK) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,604 shares, a drop of 42.4% from the August 31st total of 4,520 shares. Based on an average daily trading volume, of 9,548 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s shares are sold short.

Fairlead Tactical Sector ETF Stock Performance

TACK stock traded up $0.11 during trading on Thursday, hitting $31.48. 10,586 shares of the company traded hands, compared to its average volume of 22,478. The company has a 50-day moving average of $32.28 and a 200-day moving average of $31.53. Fairlead Tactical Sector ETF has a 1 year low of $28.97 and a 1 year high of $33.03. The firm has a market capitalization of $287.73 million, a PE ratio of 17.28 and a beta of 0.51.

Fairlead Tactical Sector ETF Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Monday, September 28th will be paid a $0.0958 dividend. The ex-dividend date of this dividend is Monday, September 28th. This is a negative change from Fairlead Tactical Sector ETF’s previous quarterly dividend of $0.1310. This represents a $0.38 annualized dividend and a dividend yield of 1.2%.

Institutional Investors Weigh In On Fairlead Tactical Sector ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Evernest Financial Advisors LLC boosted its position in Fairlead Tactical Sector ETF by 59.2% during the 1st quarter. Evernest Financial Advisors LLC now owns 541,504 shares of the company’s stock valued at $16,619,000 after acquiring an additional 201,285 shares in the last quarter. NBZ Investment Advisors LLC raised its position in shares of Fairlead Tactical Sector ETF by 0.3% in the 1st quarter. NBZ Investment Advisors LLC now owns 319,396 shares of the company’s stock worth $9,709,000 after purchasing an additional 877 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Fairlead Tactical Sector ETF by 62.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 144,620 shares of the company’s stock worth $4,334,000 after purchasing an additional 55,399 shares in the last quarter. NewEdge Advisors LLC grew its position in Fairlead Tactical Sector ETF by 10.1% during the 2nd quarter. NewEdge Advisors LLC now owns 100,482 shares of the company’s stock valued at $3,178,000 after purchasing an additional 9,194 shares during the last quarter. Finally, Insight Wealth Partners LLC increased its stake in Fairlead Tactical Sector ETF by 3.4% during the 2nd quarter. Insight Wealth Partners LLC now owns 63,671 shares of the company’s stock valued at $2,014,000 after purchasing an additional 2,088 shares in the last quarter.

About Fairlead Tactical Sector ETF

The Fairlead Tactical Sector Fund (TACK) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund relies on a proprietary, technical model to actively manage a US large-cap sector rotation strategy. During periods deemed risk-off, the fund toggles the exposure to short- or long-term US Treasurys or gold TACK was launched on Mar 23, 2022 and is managed by Fairlead.