Amplify High Income ETF (NYSEARCA:YYY) Reaches New 1-Year Low – Time to Sell?

Amplify High Income ETF (NYSEARCA:YYY)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $10.68 and last traded at $10.6850, with a volume of 211438 shares changing hands. The stock had previously closed at $10.81.

Amplify High Income ETF Stock Performance

The stock has a market cap of $691.61 million, a P/E ratio of 22.17 and a beta of 0.72. The firm’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $11.34.

Hedge Funds Weigh In On Amplify High Income ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new position in shares of Amplify High Income ETF in the 1st quarter valued at about $66,000. LFA Lugano Financial Advisors SA bought a new position in shares of Amplify High Income ETF during the 1st quarter worth approximately $70,000. Fifth Third Bancorp bought a new position in shares of Amplify High Income ETF during the 1st quarter worth approximately $77,000. Baird Financial Group Inc. acquired a new stake in shares of Amplify High Income ETF during the 2nd quarter worth approximately $123,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Amplify High Income ETF during the 4th quarter worth approximately $144,000.

About Amplify High Income ETF

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.