ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (NYSEARCA:CEFD) Sees Significant Drop in Short Interest

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (NYSEARCA:CEFD) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 2,767 shares, a drop of 39.4% from the July 30th total of 4,566 shares. Based on an average trading volume of 1,033 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.6% of the shares of the company are short sold.

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN Trading Up 0.1%

Shares of CEFD stock traded up $0.02 during midday trading on Monday, hitting $19.14. The company had a trading volume of 318 shares, compared to its average volume of 1,508. The company’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $18.81. ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN has a 52-week low of $15.47 and a 52-week high of $20.50.

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, August 20th. Investors of record on Wednesday, August 12th were given a $0.0083 dividend. The ex-dividend date was Wednesday, August 12th.

ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN Company Profile

The ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD) is an exchange-traded fund that is based on the SNET Composite Closed-End Fund index. The fund provides monthly 1.5x leveraged exposure to an index of three types of yield-focused CEFs: investment-grade fixed-income, high-yield fixed-income, and option-writing. CEFs that trade at discount receive higher weights. CEFD was launched on Jun 2, 2020 and is issued by ETRACS.