Short Interest in Simplify High Yield ETF (NYSEARCA:CDX) Expands By 287.7%

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 4,501 shares, a growth of 287.7% from the May 14th total of 1,161 shares. Based on an average daily volume of 227,967 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Trading of Simplify High Yield ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDX. Wells Fargo & Company MN acquired a new stake in Simplify High Yield ETF during the 4th quarter worth about $27,000. Arax Advisory Partners purchased a new stake in shares of Simplify High Yield ETF in the 4th quarter valued at $28,000. Private Trust Co. NA purchased a new stake in shares of Simplify High Yield ETF in the 4th quarter valued at $30,000. Clearstead Advisors LLC purchased a new stake in shares of Simplify High Yield ETF in the 4th quarter valued at $38,000. Finally, NBC Securities Inc. purchased a new stake in shares of Simplify High Yield ETF in the 4th quarter valued at $42,000.

Simplify High Yield ETF Price Performance

Simplify High Yield ETF stock traded up $0.18 during mid-day trading on Thursday, reaching $21.24. 102,099 shares of the company traded hands, compared to its average volume of 182,295. The firm’s fifty day moving average is $21.35 and its two-hundred day moving average is $21.85. Simplify High Yield ETF has a fifty-two week low of $21.02 and a fifty-two week high of $23.38. The company has a market capitalization of $444.98 million, a price-to-earnings ratio of 11.17 and a beta of 0.30.

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.