Short Interest in Simplify Interest Rate Hedge ETF (NYSEARCA:PFIX) Drops By 24.8%

Simplify Interest Rate Hedge ETF (NYSEARCA:PFIX) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 34,978 shares, a drop of 24.8% from the February 12th total of 46,503 shares. Based on an average trading volume of 340,137 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.0% of the company’s shares are sold short. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 340,137 shares, the days-to-cover ratio is presently 0.1 days.

Simplify Interest Rate Hedge ETF Stock Performance

PFIX stock traded up $0.54 during midday trading on Friday, hitting $46.57. The company had a trading volume of 900,711 shares, compared to its average volume of 579,306. Simplify Interest Rate Hedge ETF has a 52 week low of $41.45 and a 52 week high of $65.15. The stock’s 50 day moving average price is $45.26 and its 200 day moving average price is $47.29.

Simplify Interest Rate Hedge ETF Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 24th were paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, February 24th.

Institutional Investors Weigh In On Simplify Interest Rate Hedge ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFIX. Harbor Investment Advisory LLC purchased a new stake in Simplify Interest Rate Hedge ETF during the 4th quarter valued at $29,000. JPMorgan Chase & Co. raised its stake in shares of Simplify Interest Rate Hedge ETF by 1,285.0% during the third quarter. JPMorgan Chase & Co. now owns 831 shares of the company’s stock valued at $40,000 after acquiring an additional 771 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of Simplify Interest Rate Hedge ETF during the fourth quarter valued at about $48,000. Bank of Montreal Can boosted its holdings in shares of Simplify Interest Rate Hedge ETF by 168.7% during the fourth quarter. Bank of Montreal Can now owns 1,048 shares of the company’s stock worth $50,000 after purchasing an additional 658 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Simplify Interest Rate Hedge ETF during the second quarter worth about $53,000.

Simplify Interest Rate Hedge ETF Company Profile

The Simplify Interest Rate Hedge ETF (PFIX) is an exchange-traded fund that mostly invests in spreads alternatives. The fund is actively managed to provide a hedge against a sharp increase in long-term interest rates. The fund holds OTC interest rate options, US Treasurys, and US Treasury Inflation-Protected Securities (TIPS). PFIX was launched on May 10, 2021 and is managed by Simplify.