Roundhill GOOGL WeeklyPay ETF (BATS:GOOW) Sees Large Increase in Short Interest

Roundhill GOOGL WeeklyPay ETF (BATS:GOOW) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 9,730 shares, a growth of 133.8% from the May 14th total of 4,162 shares. Based on an average trading volume of 39,457 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Roundhill GOOGL WeeklyPay ETF

Several hedge funds and other institutional investors have recently made changes to their positions in GOOW. Exchange Traded Concepts LLC boosted its stake in shares of Roundhill GOOGL WeeklyPay ETF by 96.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 266,992 shares of the company’s stock valued at $18,911,000 after buying an additional 130,967 shares during the period. Jane Street Group LLC purchased a new position in shares of Roundhill GOOGL WeeklyPay ETF in the 4th quarter valued at about $431,000. Finally, Group One Trading LLC purchased a new position in shares of Roundhill GOOGL WeeklyPay ETF in the 1st quarter valued at about $43,000.

Roundhill GOOGL WeeklyPay ETF Price Performance

Shares of Roundhill GOOGL WeeklyPay ETF stock opened at $69.84 on Friday. The firm’s 50-day moving average price is $72.68. Roundhill GOOGL WeeklyPay ETF has a 12 month low of $49.33 and a 12 month high of $83.17.

Roundhill GOOGL WeeklyPay ETF (BATS: GOOW) is an exchange-traded fund issued by Roundhill Investments that provides investors with targeted exposure to Alphabet Inc (GOOGL), the parent company of Google. The fund is listed on the Cboe BATS exchange under the ticker symbol GOOW and is offered as a single-issuer vehicle designed for investors seeking concentrated exposure to one of the largest U.S. technology companies.

As indicated by its name, the ETF is structured to deliver regular distributions on a weekly schedule, which may appeal to income-oriented investors who want periodic cash flow while maintaining equity exposure to Alphabet.