ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) Sees Significant Increase in Short Interest

ETC 6 Meridian Hedged Equity Index Option Strategy (NYSEARCA:SIXH) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 10,766 shares, an increase of 644.0% from the April 30th total of 1,447 shares. Based on an average daily volume of 5,350 shares, the short-interest ratio is currently 2.0 days. Currently, 0.1% of the shares of the company are short sold.

ETC 6 Meridian Hedged Equity Index Option Strategy Stock Down 0.7%

SIXH traded down $0.30 during mid-day trading on Friday, reaching $41.82. 936 shares of the company traded hands, compared to its average volume of 9,679. The company’s fifty day moving average price is $42.01 and its 200-day moving average price is $40.96. The stock has a market capitalization of $540.73 million, a P/E ratio of 16.87 and a beta of 0.32. ETC 6 Meridian Hedged Equity Index Option Strategy has a 52-week low of $37.48 and a 52-week high of $43.32.

ETC 6 Meridian Hedged Equity Index Option Strategy Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 27th will be given a dividend of $0.0455 per share. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SIXH. Raymond James Financial Inc. purchased a new position in ETC 6 Meridian Hedged Equity Index Option Strategy in the second quarter worth about $74,000. Jane Street Group LLC bought a new position in shares of ETC 6 Meridian Hedged Equity Index Option Strategy in the 4th quarter worth approximately $327,000. OLD Mission Capital LLC boosted its holdings in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 99.2% in the fourth quarter. OLD Mission Capital LLC now owns 13,255 shares of the company’s stock worth $521,000 after buying an additional 6,600 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in shares of ETC 6 Meridian Hedged Equity Index Option Strategy by 138.7% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 40,176 shares of the company’s stock worth $1,578,000 after buying an additional 23,343 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in ETC 6 Meridian Hedged Equity Index Option Strategy by 2.2% during the third quarter. HighTower Advisors LLC now owns 12,221,580 shares of the company’s stock valued at $472,585,000 after buying an additional 263,500 shares during the period.

ETC 6 Meridian Hedged Equity Index Option Strategy Company Profile

The ETC 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund that provides exposure to US equities and sellscall options against SPY. SIXH was launched on May 11, 2020 and is managed by Meridian.