Short Interest in YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) Expands By 111.2%

YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 1,320,000 shares, a growth of 111.2% from the May 15th total of 624,900 shares. Based on an average daily volume of 492,300 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.3% of the shares of the company are sold short.

Hedge Funds Weigh In On YieldMax Magnificent 7 Fund of Option Income ETF

An institutional investor recently bought a new position in YieldMax Magnificent 7 Fund of Option Income ETF stock. JPMorgan Chase & Co. purchased a new stake in shares of YieldMax Magnificent 7 Fund of Option Income ETF (NYSEARCA:YMAG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,553 shares of the company’s stock, valued at approximately $126,000. JPMorgan Chase & Co. owned about 0.27% of YieldMax Magnificent 7 Fund of Option Income ETF as of its most recent filing with the Securities & Exchange Commission.

YieldMax Magnificent 7 Fund of Option Income ETF Trading Down 0.8%

Shares of YieldMax Magnificent 7 Fund of Option Income ETF stock opened at $15.08 on Monday. The company has a 50-day simple moving average of $14.97 and a two-hundred day simple moving average of $16.84. YieldMax Magnificent 7 Fund of Option Income ETF has a twelve month low of $12.85 and a twelve month high of $21.91.

About YieldMax Magnificent 7 Fund of Option Income ETF

The YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is a fund-of-funds that invests in seven mega-cap ETFs considered to be driving the market through technology. The underlying ETFs seek to provide current income and capped gains of these stocks through a synthetic covered call strategy.