Fairlead Tactical Sector ETF (NYSEARCA:TACK) Sees Significant Decline in Short Interest

Fairlead Tactical Sector ETF (NYSEARCA:TACK) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 2,604 shares, a drop of 42.4% from the August 31st total of 4,520 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,548 shares, the short-interest ratio is currently 0.3 days.

Fairlead Tactical Sector ETF Price Performance

Shares of NYSEARCA:TACK traded down $0.23 during trading on Wednesday, reaching $31.37. The stock had a trading volume of 10,026 shares, compared to its average volume of 22,541. Fairlead Tactical Sector ETF has a 52 week low of $28.97 and a 52 week high of $33.03. The business’s 50-day moving average price is $32.30 and its 200 day moving average price is $31.52. The stock has a market capitalization of $286.72 million, a PE ratio of 17.28 and a beta of 0.51.

Fairlead Tactical Sector ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Monday, September 28th will be issued a dividend of $0.0958 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $0.38 dividend on an annualized basis and a yield of 1.2%. This is a negative change from Fairlead Tactical Sector ETF’s previous quarterly dividend of $0.1310.

Hedge Funds Weigh In On Fairlead Tactical Sector ETF

Several institutional investors have recently bought and sold shares of the business. Evernest Financial Advisors LLC boosted its stake in Fairlead Tactical Sector ETF by 59.2% in the first quarter. Evernest Financial Advisors LLC now owns 541,504 shares of the company’s stock worth $16,619,000 after purchasing an additional 201,285 shares in the last quarter. NBZ Investment Advisors LLC lifted its position in shares of Fairlead Tactical Sector ETF by 0.3% during the first quarter. NBZ Investment Advisors LLC now owns 319,396 shares of the company’s stock worth $9,709,000 after purchasing an additional 877 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Fairlead Tactical Sector ETF by 62.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 144,620 shares of the company’s stock worth $4,334,000 after purchasing an additional 55,399 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Fairlead Tactical Sector ETF by 10.1% during the second quarter. NewEdge Advisors LLC now owns 100,482 shares of the company’s stock valued at $3,178,000 after purchasing an additional 9,194 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its stake in shares of Fairlead Tactical Sector ETF by 3.4% during the second quarter. Insight Wealth Partners LLC now owns 63,671 shares of the company’s stock valued at $2,014,000 after purchasing an additional 2,088 shares during the last quarter.

About Fairlead Tactical Sector ETF

The Fairlead Tactical Sector Fund (TACK) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund relies on a proprietary, technical model to actively manage a US large-cap sector rotation strategy. During periods deemed risk-off, the fund toggles the exposure to short- or long-term US Treasurys or gold TACK was launched on Mar 23, 2022 and is managed by Fairlead.