NEOS Russell 2000 High Income ETF (NYSEARCA:IWMI) Stock Price Down 0.6% – Here’s Why

NEOS Russell 2000 High Income ETF (NYSEARCA:IWMI)’s share price was down 0.6% during trading on Tuesday . The company traded as low as $48.99 and last traded at $48.99. Approximately 329,395 shares traded hands during trading, an increase of 157% from the average daily volume of 128,179 shares. The stock had previously closed at $49.31.

NEOS Russell 2000 High Income ETF Stock Down 0.6%

The firm’s fifty day moving average is $48.92 and its two-hundred day moving average is $47.83. The firm has a market cap of $363.51 million, a P/E ratio of 16.33 and a beta of 1.14.

Hedge Funds Weigh In On NEOS Russell 2000 High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of IWMI. Sunbelt Securities Inc. bought a new stake in NEOS Russell 2000 High Income ETF during the 3rd quarter valued at approximately $307,000. PVG Asset Management Corp bought a new position in shares of NEOS Russell 2000 High Income ETF in the 2nd quarter worth approximately $228,000. Private Trust Co. NA lifted its stake in shares of NEOS Russell 2000 High Income ETF by 330.0% in the 3rd quarter. Private Trust Co. NA now owns 4,300 shares of the company’s stock valued at $209,000 after purchasing an additional 3,300 shares during the period. Finally, CoreCap Advisors LLC boosted its position in shares of NEOS Russell 2000 High Income ETF by 250.7% during the third quarter. CoreCap Advisors LLC now owns 1,052 shares of the company’s stock valued at $51,000 after purchasing an additional 752 shares in the last quarter.

About NEOS Russell 2000 High Income ETF

The NEOS Russell 2000 High Income ETF (IWMI) is an exchange-traded fund that mostly invests in small-cap stocks. The fund is an actively managed fund-of-fund that seeks to generate income by investing in constituents of the Russell 2000 Index while also employing a call option strategy. IWMI was launched on Jun 25, 2024 and is issued by Neos.