S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) Stock Short Interest Falls 52.9%

S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 49,116 shares, a decline of 52.9% from the September 15th total of 104,389 shares. Based on an average trading volume of 28,217 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.1% of the company’s stock are sold short.

Institutional Investors Weigh In On S&P 500 Covered Call & Growth ETF

A hedge fund recently raised its stake in S&P 500 Covered Call & Growth ETF stock. Janney Montgomery Scott LLC raised its holdings in S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) by 377.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,763 shares of the company’s stock after acquiring an additional 40,139 shares during the quarter. Janney Montgomery Scott LLC owned 2.22% of S&P 500 Covered Call & Growth ETF worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

S&P 500 Covered Call & Growth ETF Stock Performance

Shares of XYLG remained flat at $29.78 during midday trading on Thursday. 11,565 shares of the stock traded hands, compared to its average volume of 21,979. The stock has a market cap of $72.07 million, a PE ratio of 25.30 and a beta of 0.75. The firm has a 50 day moving average price of $29.61 and a 200 day moving average price of $28.79. S&P 500 Covered Call & Growth ETF has a one year low of $25.63 and a one year high of $30.04.

About S&P 500 Covered Call & Growth ETF

The Global X S&P 500 Covered Call & Growth ETF (XYLG) is an exchange-traded fund that is based on the Cboe S&P 500 Half BuyWrite index. The fund tracks an index of S&P 500 stocks and sells one-month, at-the-money call options on up to 50% of each stock. XYLG was launched on Sep 18, 2020 and is managed by Global X.