Short Interest in Global X S&P 500 Risk Managed Income ETF (NYSEARCA:XRMI) Drops By 21.8%

Global X S&P 500 Risk Managed Income ETF (NYSEARCA:XRMI) saw a significant decline in short interest in February. As of February 13th, there was short interest totaling 28,467 shares, a decline of 21.8% from the January 29th total of 36,400 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 13,555 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 13,555 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.2% of the company’s stock are short sold.

Global X S&P 500 Risk Managed Income ETF Stock Performance

XRMI stock opened at $17.79 on Monday. The firm has a market cap of $41.63 million, a P/E ratio of 25.29 and a beta of 0.35. Global X S&P 500 Risk Managed Income ETF has a 1 year low of $17.38 and a 1 year high of $19.26. The stock has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $17.81.

Global X S&P 500 Risk Managed Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 23rd were given a $0.177 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) annualized dividend and a yield of 11.9%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XRMI. Tactive Advisors LLC acquired a new stake in Global X S&P 500 Risk Managed Income ETF during the 2nd quarter valued at $456,000. Jane Street Group LLC acquired a new stake in shares of Global X S&P 500 Risk Managed Income ETF during the first quarter valued at about $459,000. Cetera Investment Advisers increased its position in shares of Global X S&P 500 Risk Managed Income ETF by 22.1% during the second quarter. Cetera Investment Advisers now owns 124,524 shares of the company’s stock worth $2,228,000 after acquiring an additional 22,532 shares during the last quarter. Brookwood Investment Group LLC increased its position in shares of Global X S&P 500 Risk Managed Income ETF by 49.3% during the fourth quarter. Brookwood Investment Group LLC now owns 60,553 shares of the company’s stock worth $1,082,000 after acquiring an additional 19,988 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Global X S&P 500 Risk Managed Income ETF by 6.9% in the fourth quarter. LPL Financial LLC now owns 256,731 shares of the company’s stock worth $4,588,000 after acquiring an additional 16,466 shares in the last quarter.

About Global X S&P 500 Risk Managed Income ETF

The Global X S&P 500 Risk Managed Income ETF (XRMI) is an exchange-traded fund that is based on the Cboe S&P 500 Risk Managed Income index. The fund tracks an index that holds S&P 500 stocks combined with an options collar strategy. The fund buys 5% OTM put options and sells ATM covered call options on a monthly basis. XRMI was launched on Aug 25, 2021 and is managed by Global X.