Simplify High Yield ETF (NYSEARCA:CDX) Sees Significant Increase in Short Interest

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 161,257 shares, an increase of 1,058.8% from the September 30th total of 13,916 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 106,539 shares, the short-interest ratio is presently 1.5 days.

Simplify High Yield ETF Stock Up 0.2%

Simplify High Yield ETF stock opened at $20.29 on Tuesday. The company’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $21.21. Simplify High Yield ETF has a 12 month low of $20.06 and a 12 month high of $22.94. The stock has a market cap of $314.50 million, a P/E ratio of 11.17 and a beta of 0.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in shares of Simplify High Yield ETF by 10.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,655,982 shares of the company’s stock worth $34,974,000 after buying an additional 159,062 shares during the period. Insight Wealth Strategies LLC increased its stake in shares of Simplify High Yield ETF by 12.4% in the 2nd quarter. Insight Wealth Strategies LLC now owns 764,328 shares of the company’s stock valued at $16,013,000 after acquiring an additional 84,230 shares during the last quarter. NewEdge Wealth LLC grew its holdings in Simplify High Yield ETF by 9.1% during the first quarter. NewEdge Wealth LLC now owns 368,211 shares of the company’s stock valued at $7,858,000 after purchasing an additional 30,768 shares during the period. Flagship Harbor Advisors LLC boosted its position in shares of Simplify High Yield ETF by 2.2% during the third quarter. Flagship Harbor Advisors LLC now owns 325,275 shares of the company’s stock worth $6,561,000 after purchasing an additional 7,064 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Simplify High Yield ETF by 10.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 267,497 shares of the company’s stock worth $5,650,000 after acquiring an additional 25,739 shares in the last quarter.

About Simplify High Yield ETF

The Simplify High Yield PLUS Credit Hedge ETF (CDX) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is a fund-of-funds that invests in US high-yield bond ETFs with different maturities. It also provides a credit hedge overlay, which may contain S&P 500 Index (SPX) puts. CDX was launched on Feb 14, 2022 and is managed by Simplify.