ETC 6 Meridian Low Beta Equity Strategy ETF (NYSEARCA:SIXL) Sees Large Decrease in Short Interest

ETC 6 Meridian Low Beta Equity Strategy ETF (NYSEARCA:SIXL) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 968 shares, a decline of 68.6% from the September 30th total of 3,083 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,954 shares, the days-to-cover ratio is presently 0.5 days.

ETC 6 Meridian Low Beta Equity Strategy ETF Stock Performance

Shares of NYSEARCA:SIXL traded up $0.33 during midday trading on Thursday, reaching $40.09. The company had a trading volume of 416 shares, compared to its average volume of 4,085. The company has a fifty day simple moving average of $39.08 and a two-hundred day simple moving average of $38.80. The firm has a market cap of $206.46 million, a price-to-earnings ratio of 17.82 and a beta of 0.55. ETC 6 Meridian Low Beta Equity Strategy ETF has a 1-year low of $35.69 and a 1-year high of $40.92.

ETC 6 Meridian Low Beta Equity Strategy ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 28th will be issued a dividend of $0.0428 per share. This is a negative change from ETC 6 Meridian Low Beta Equity Strategy ETF’s previous monthly dividend of $0.0638. This represents a $0.51 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 28th.

About ETC 6 Meridian Low Beta Equity Strategy ETF

The ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund of US stocks selected for fundamental factors of growth and low volatility. Securities are equally weighted. SIXL was launched on May 11, 2020 and is managed by Meridian.