Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) Shares Down 1.7% – Here’s Why

Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL)’s stock price dropped 1.7% during trading on Wednesday . The company traded as low as $55.17 and last traded at $55.18. Approximately 44,359 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 48,082 shares. The stock had previously closed at $56.11.

Overlay Shares Large Cap Equity ETF Trading Down 1.7%

The company’s 50 day moving average is $55.37 and its 200 day moving average is $53.91. The stock has a market capitalization of $219.62 million, a price-to-earnings ratio of 24.33 and a beta of 1.14.

Institutional Investors Weigh In On Overlay Shares Large Cap Equity ETF

A hedge fund recently raised its stake in Overlay Shares Large Cap Equity ETF stock. Janney Montgomery Scott LLC raised its position in shares of Overlay Shares Large Cap Equity ETF (NYSEARCA:OVL) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,921 shares of the company’s stock after purchasing an additional 1,969 shares during the quarter. Janney Montgomery Scott LLC owned about 1.11% of Overlay Shares Large Cap Equity ETF worth $2,018,000 as of its most recent SEC filing.

Overlay Shares Large Cap Equity ETF Company Profile

The Overlay Shares Large Cap Equity ETF (OVL) is an exchange-traded fund that is based on the S&P 500 index. The fund is actively managed to provide exposure to large cap U.S. equities combined with a put spread option overlay strategy. OVL was launched on Sep 30, 2019 and is managed by Overlay Shares.