Simplify Volatility Premium ETF (NYSEARCA:SVOL) Trading Down 1.5% – Here’s Why

Simplify Volatility Premium ETF (NYSEARCA:SVOL) shares dropped 1.5% on Tuesday . The company traded as low as $15.93 and last traded at $15.93. Approximately 298,377 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 433,184 shares. The stock had previously closed at $16.18.

Simplify Volatility Premium ETF Price Performance

The business’s fifty day simple moving average is $15.83 and its two-hundred day simple moving average is $16.79. The company has a market cap of $589.89 million, a PE ratio of 25.19 and a beta of 0.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SVOL. Jane Street Group LLC purchased a new position in Simplify Volatility Premium ETF in the second quarter valued at $2,099,000. Visionary Wealth Advisors increased its holdings in Simplify Volatility Premium ETF by 14.2% in the second quarter. Visionary Wealth Advisors now owns 189,097 shares of the company’s stock valued at $3,477,000 after buying an additional 23,460 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Simplify Volatility Premium ETF in the third quarter valued at $523,000. Wealthcare Advisory Partners LLC purchased a new position in Simplify Volatility Premium ETF in the third quarter valued at $270,000. Finally, Koshinski Asset Management Inc. purchased a new position in Simplify Volatility Premium ETF in the third quarter valued at $181,000.

Simplify Volatility Premium ETF Company Profile

The Simplify Volatility Premium ETF (SVOL) is an exchange-traded fund that mostly invests in volatility alternatives. The fund is an actively managed portfolio that aims to provide income via short exposure to S&P 500 VIX short-term futures, reset daily. The fund also utilizes an option overlay strategy to protect against adverse moves in VIX. SVOL was launched on May 12, 2021 and is managed by Simplify.