Simplify Bitcoin Strategy PLUS Income ETF (NASDAQ:MAXI) Stock Falls 2.5% – Should You Sell?

Simplify Bitcoin Strategy PLUS Income ETF (NASDAQ:MAXI) dropped 2.5% during mid-day trading on Friday. The stock traded as low as $13.63 and last traded at $13.88. Approximately 11,017 shares changed hands during trading, a decline of 64% from the average daily volume of 30,888 shares. The stock had previously closed at $14.24.

Simplify Bitcoin Strategy PLUS Income ETF Stock Down 2.5%

The stock’s 50 day moving average is $13.47 and its 200-day moving average is $11.16.

Simplify Bitcoin Strategy PLUS Income ETF Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 25th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MAXI. Mid American Wealth Advisory Group Inc. boosted its position in shares of Simplify Bitcoin Strategy PLUS Income ETF by 315.0% during the second quarter. Mid American Wealth Advisory Group Inc. now owns 73,431 shares of the company’s stock valued at $609,000 after purchasing an additional 55,738 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Simplify Bitcoin Strategy PLUS Income ETF in the second quarter worth $569,000. Nwam LLC bought a new position in Simplify Bitcoin Strategy PLUS Income ETF in the second quarter worth $281,000. Mather Group LLC. bought a new position in Simplify Bitcoin Strategy PLUS Income ETF in the third quarter worth $63,000. Finally, Cambridge Advisors Inc. raised its holdings in Simplify Bitcoin Strategy PLUS Income ETF by 4.2% in the first quarter. Cambridge Advisors Inc. now owns 32,732 shares of the company’s stock worth $312,000 after purchasing an additional 1,330 shares in the last quarter.

About Simplify Bitcoin Strategy PLUS Income ETF

The Simplify Bitcoin Strategy PLUS Income ETF (MAXI) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund is actively managed, aiming to provide capital appreciation and income. The fund holds long Bitcoin futures, short-term debt instruments, and near-term equity index put or call spreads MAXI was launched on Sep 29, 2022 and is managed by Simplify.