ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (NYSEARCA:CEFD) Sees Significant Drop in Short Interest

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (NYSEARCA:CEFD) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 2,767 shares, a decline of 39.4% from the July 30th total of 4,566 shares. Based on an average trading volume of 1,033 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.6% of the shares of the company are short sold.

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN Trading Up 0.1%

NYSEARCA CEFD traded up $0.02 during trading hours on Monday, hitting $19.14. 318 shares of the stock were exchanged, compared to its average volume of 1,508. ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN has a 12-month low of $15.47 and a 12-month high of $20.50. The stock has a 50-day moving average of $19.03 and a 200 day moving average of $18.81.

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 12th were given a dividend of $0.0083 per share. The ex-dividend date was Wednesday, August 12th.

About ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN

The ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) is an exchange-traded fund that is based on the SNET Composite Closed-End Fund index. The fund provides monthly 1.5x leveraged exposure to an index of three types of yield-focused CEFs: investment-grade fixed-income, high-yield fixed-income, and option-writing. CEFs that trade at discount receive higher weights. CEFD was launched on Jun 2, 2020 and is issued by ETRACS.