Short Interest in Simplify High Yield ETF (NYSEARCA:CDX) Increases By 148.5%

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 14,037 shares, an increase of 148.5% from the April 15th total of 5,649 shares. Based on an average trading volume of 141,315 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Simplify High Yield ETF Stock Performance

Shares of CDX stock traded down $0.05 during mid-day trading on Friday, hitting $21.22. 87,230 shares of the stock were exchanged, compared to its average volume of 179,330. Simplify High Yield ETF has a 12-month low of $21.16 and a 12-month high of $23.38. The stock’s fifty day simple moving average is $21.54 and its two-hundred day simple moving average is $22.07. The stock has a market capitalization of $444.56 million, a price-to-earnings ratio of 11.17 and a beta of 0.31.

Hedge Funds Weigh In On Simplify High Yield ETF

Hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN acquired a new stake in Simplify High Yield ETF in the 4th quarter valued at about $27,000. Arax Advisory Partners acquired a new position in Simplify High Yield ETF during the fourth quarter valued at approximately $28,000. Private Trust Co. NA acquired a new position in shares of Simplify High Yield ETF during the fourth quarter worth about $30,000. Clearstead Advisors LLC acquired a new position in shares of Simplify High Yield ETF during the fourth quarter worth about $38,000. Finally, NBC Securities Inc. acquired a new position in Simplify High Yield ETF during the fourth quarter worth $42,000.

About Simplify High Yield ETF

The Simplify High Yield PLUS Credit Hedge ETF (CDX) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is a fund-of-funds that invests in US high-yield bond ETFs with different maturities. It also provides a credit hedge overlay, which may contain S&P 500 Index (SPX) puts. CDX was launched on Feb 14, 2022 and is managed by Simplify.