Amplify High Income ETF (NYSEARCA:YYY) Sees Large Volume Increase – Should You Buy?

Amplify High Income ETF (NYSEARCA:YYY) shares saw strong trading volume on Thursday. Approximately 1,659,902 shares changed hands during mid-day trading, an increase of 285% from the average daily volume of 431,300 shares. The stock last traded at $10.2050 and had previously closed at $10.42.

Amplify High Income ETF Stock Down 2.3%

The company has a 50 day moving average of $10.62 and a two-hundred day moving average of $11.25. The firm has a market cap of $662.21 million, a P/E ratio of 22.17 and a beta of 0.74.

Hedge Funds Weigh In On Amplify High Income ETF

Several large investors have recently made changes to their positions in YYY. NWF Advisory Services Inc. boosted its holdings in shares of Amplify High Income ETF by 6.3% in the second quarter. NWF Advisory Services Inc. now owns 714,145 shares of the company’s stock worth $8,234,000 after buying an additional 42,200 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Amplify High Income ETF by 12.9% in the second quarter. Envestnet Asset Management Inc. now owns 408,072 shares of the company’s stock worth $4,705,000 after acquiring an additional 46,527 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Amplify High Income ETF by 4.6% in the first quarter. International Assets Investment Management LLC now owns 371,346 shares of the company’s stock worth $4,103,000 after acquiring an additional 16,265 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Amplify High Income ETF by 37.5% during the second quarter. Wedbush Securities Inc. now owns 325,327 shares of the company’s stock valued at $8,732,000 after acquiring an additional 88,794 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Amplify High Income ETF by 16.8% during the first quarter. Cetera Investment Advisers now owns 242,369 shares of the company’s stock valued at $2,673,000 after acquiring an additional 34,916 shares during the period.

Amplify High Income ETF Company Profile

The Amplify High Income ETF (YYY) is an exchange-traded fund that is based on the ISE High Income index. The fund tracks an index of US-listed closed-end funds, weighted by yield, discount to NAV, and trading volume. There are no restrictions on the assets or strategies of the underlying funds. YYY was launched on Jun 12, 2013 and is managed by Amplify.