REX AI Equity Premium Income ETF (NASDAQ:AIPI) Sees Significant Drop in Short Interest

REX AI Equity Premium Income ETF (NASDAQ:AIPI) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 111,492 shares, a drop of 65.1% from the September 30th total of 319,541 shares. Based on an average trading volume of 274,064 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the shares of the stock are short sold.

REX AI Equity Premium Income ETF Price Performance

Shares of NASDAQ AIPI traded down $1.64 on Friday, hitting $33.76. The company’s stock had a trading volume of 627,274 shares, compared to its average volume of 184,773. The stock has a 50 day moving average of $36.81 and a 200-day moving average of $36.61. The company has a market capitalization of $455.76 million, a price-to-earnings ratio of 41.65 and a beta of 1.11. REX AI Equity Premium Income ETF has a 12-month low of $32.21 and a 12-month high of $44.07.

REX AI Equity Premium Income ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 28th were given a dividend of $0.2387 per share. The ex-dividend date was Wednesday, October 28th. This represents a dividend yield of 3,427.0%. This is a decrease from REX AI Equity Premium Income ETF’s previous dividend of $0.2396.

Institutional Investors Weigh In On REX AI Equity Premium Income ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new position in REX AI Equity Premium Income ETF during the third quarter worth $77,000. Janney Montgomery Scott LLC lifted its position in shares of REX AI Equity Premium Income ETF by 51.2% in the first quarter. Janney Montgomery Scott LLC now owns 8,367 shares of the company’s stock valued at $281,000 after acquiring an additional 2,832 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of REX AI Equity Premium Income ETF by 45.4% during the third quarter. SBI Securities Co. Ltd. now owns 47,112 shares of the company’s stock valued at $1,762,000 after acquiring an additional 14,719 shares during the last quarter.

REX AI Equity Premium Income ETF Company Profile

The REX AI Equity Premium Income ETF (AIPI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, investing in leading Artificial Intelligence (AI) companies selected from the holdings of the BITA AI Leaders Select Index. The fund seeks to generate income by writing covered call options on its holdings, aiming for capital growth and current income, while maintaining the flexibility to adapt based on market conditions AIPI was launched on Jun 4, 2024 and is issued by REX Shares.