ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) Stock Short Interest Drops 83.3%

ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) was the recipient of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 2,329 shares, a drop of 83.3% from the October 15th total of 13,963 shares. Based on an average daily volume of 282,168 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ETRACS Silver Shares Covered Call ETN stock. Claris Financial LLC raised its holdings in ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,095 shares of the company’s stock after buying an additional 2,377 shares during the quarter. Claris Financial LLC owned 0.36% of ETRACS Silver Shares Covered Call ETN worth $1,252,000 as of its most recent SEC filing.

ETRACS Silver Shares Covered Call ETN Trading Down 1.4%

Shares of SLVO traded down $0.73 during trading hours on Friday, hitting $52.34. 39,300 shares of the stock were exchanged, compared to its average volume of 149,740. ETRACS Silver Shares Covered Call ETN has a fifty-two week low of $51.72 and a fifty-two week high of $107.41. The business has a 50-day moving average of $62.71 and a 200-day moving average of $77.23.

ETRACS Silver Shares Covered Call ETN Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 20th will be given a $1.2250 dividend. This is a drop from ETRACS Silver Shares Covered Call ETN’s previous monthly dividend of $1.7010. The ex-dividend date of this dividend is Friday, November 20th. This represents a $14.70 annualized dividend and a dividend yield of 28.1%.

About ETRACS Silver Shares Covered Call ETN

ETRACS Silver Shares Covered Call ETN (NASDAQ: SLVO) is an exchange-traded note listed in the United States that provides investors with a packaged exposure to silver coupled with an options overlay. The product is structured to deliver returns that reflect the performance of a long position in shares representing physical silver together with the income and payoff profile generated by a covered call strategy. As an ETN, SLVO is an unsecured debt instrument whose economic return is tied to the referenced strategy rather than to ownership of a separate pool of assets.