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) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 1,211 shares, a decline of 49.4% from the August 31st total of 2,391 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 636 shares, the days-to-cover ratio is currently 1.9 days.

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

Shares of NYSEARCA:CEFD traded down $0.02 during mid-day trading on Thursday, reaching $17.74. The company had a trading volume of 565 shares, compared to its average volume of 1,385. ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN has a one year low of $15.47 and a one year high of $20.50. The company’s 50-day moving average price is $18.70 and its 200-day moving average price is $18.69.

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

The firm also recently disclosed a dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were issued a dividend of $0.2084 per share. This is a boost from ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN’s previous dividend of $0.0083. The ex-dividend date of this dividend was Monday, September 14th.

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.