Simplify High Yield ETF (NYSEARCA:CDX) Sees Large Growth in Short Interest

Simplify High Yield ETF (NYSEARCA:CDX) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 17,009 shares, a growth of 236.6% from the June 15th total of 5,053 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 145,772 shares, the short-interest ratio is presently 0.1 days.

Simplify High Yield ETF Stock Performance

NYSEARCA:CDX opened at $20.89 on Wednesday. Simplify High Yield ETF has a one year low of $20.85 and a one year high of $23.33. The stock has a market cap of $384.79 million, a PE ratio of 11.17 and a beta of 0.30. The stock has a 50 day moving average price of $21.14 and a 200 day moving average price of $21.63.

Institutional Trading of Simplify High Yield ETF

Several large investors have recently added to or reduced their stakes in CDX. Meridian Wealth Management LLC purchased a new stake in shares of Simplify High Yield ETF in the fourth quarter valued at about $7,109,000. Orion Porfolio Solutions LLC raised its stake in Simplify High Yield ETF by 1,306.2% during the fourth quarter. Orion Porfolio Solutions LLC now owns 318,520 shares of the company’s stock worth $7,093,000 after purchasing an additional 295,869 shares during the period. Drive Wealth Management LLC raised its stake in Simplify High Yield ETF by 177.2% during the fourth quarter. Drive Wealth Management LLC now owns 372,252 shares of the company’s stock worth $8,290,000 after purchasing an additional 237,952 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Simplify High Yield ETF in the 4th quarter valued at about $4,935,000. Finally, NewEdge Advisors LLC acquired a new position in Simplify High Yield ETF in the 3rd quarter valued at about $4,809,000.

Simplify High Yield ETF Company Profile

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.