VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Stock Short Interest Climbs 81.6%

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 35,974 shares, a growth of 81.6% from the September 30th total of 19,808 shares. Based on an average daily trading volume, of 45,196 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

VictoryShares WestEnd US Sector ETF Stock Performance

Shares of NASDAQ:MODL traded down $0.24 during trading on Monday, reaching $51.73. The company had a trading volume of 22,318 shares, compared to its average volume of 71,220. The firm’s fifty day moving average is $52.72 and its 200 day moving average is $49.90. The firm has a market capitalization of $1.06 billion, a PE ratio of 58.12 and a beta of 0.94. VictoryShares WestEnd US Sector ETF has a twelve month low of $43.38 and a twelve month high of $53.45.

VictoryShares WestEnd US Sector ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 8th were issued a dividend of $0.0223 per share. The ex-dividend date of this dividend was Thursday, October 8th. This is a negative change from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. This represents a $0.27 annualized dividend and a yield of 0.5%. VictoryShares WestEnd US Sector ETF’s dividend payout ratio is presently 39.33%.

Institutional Investors Weigh In On VictoryShares WestEnd US Sector ETF

A number of institutional investors have recently added to or reduced their stakes in MODL. Capital Analysts LLC lifted its holdings in shares of VictoryShares WestEnd US Sector ETF by 52.4% in the second quarter. Capital Analysts LLC now owns 35,491 shares of the company’s stock valued at $1,809,000 after buying an additional 12,199 shares during the period. Bank of America Corp DE boosted its stake in VictoryShares WestEnd US Sector ETF by 48,293.9% during the first quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock valued at $43,254,000 after buying an additional 965,878 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in VictoryShares WestEnd US Sector ETF by 97.4% during the second quarter. Envestnet Asset Management Inc. now owns 383,308 shares of the company’s stock valued at $19,537,000 after buying an additional 189,095 shares in the last quarter. Royal Bank of Canada grew its holdings in VictoryShares WestEnd US Sector ETF by 29.5% during the first quarter. Royal Bank of Canada now owns 472,306 shares of the company’s stock worth $21,107,000 after acquiring an additional 107,520 shares during the period. Finally, Fairvoy Private Wealth LLC grew its holdings in VictoryShares WestEnd US Sector ETF by 28.7% during the third quarter. Fairvoy Private Wealth LLC now owns 129,589 shares of the company’s stock worth $6,783,000 after acquiring an additional 28,900 shares during the period. 29.49% of the stock is currently owned by institutional investors and hedge funds.

About VictoryShares WestEnd US Sector ETF

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.