NEOS S&P 500 High Income ETF (BATS:SPYI) Short Interest Up 217.8% in July

NEOS S&P 500 High Income ETF (BATS:SPYI) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 2,882,262 shares, an increase of 217.8% from the June 30th total of 906,901 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily volume of 2,186,107 shares, the short-interest ratio is presently 1.3 days.

NEOS S&P 500 High Income ETF Stock Performance

Shares of NEOS S&P 500 High Income ETF stock traded up $0.13 on Monday, hitting $52.43. The stock had a trading volume of 714,889 shares, compared to its average volume of 3,802,047. The stock has a 50 day moving average of $53.15 and a 200 day moving average of $52.33. The firm has a market capitalization of $4.33 billion, a P/E ratio of 25.58 and a beta of 0.71. NEOS S&P 500 High Income ETF has a twelve month low of $47.77 and a twelve month high of $54.11.

Hedge Funds Weigh In On NEOS S&P 500 High Income ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPYI. Foguth Wealth Management LLC. raised its position in NEOS S&P 500 High Income ETF by 927.5% during the 1st quarter. Foguth Wealth Management LLC. now owns 1,214,307 shares of the company’s stock worth $65,439,000 after purchasing an additional 1,096,123 shares during the last quarter. LPL Financial LLC grew its position in shares of NEOS S&P 500 High Income ETF by 36.5% in the 4th quarter. LPL Financial LLC now owns 3,139,873 shares of the company’s stock valued at $164,938,000 after buying an additional 839,220 shares during the last quarter. UBS Group AG increased its stake in shares of NEOS S&P 500 High Income ETF by 77.9% in the fourth quarter. UBS Group AG now owns 1,054,374 shares of the company’s stock valued at $55,386,000 after buying an additional 461,724 shares during the period. Royal Bank of Canada raised its position in shares of NEOS S&P 500 High Income ETF by 80.6% during the fourth quarter. Royal Bank of Canada now owns 927,241 shares of the company’s stock worth $48,707,000 after acquiring an additional 413,801 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new position in shares of NEOS S&P 500 High Income ETF in the first quarter worth approximately $8,039,000.

NEOS S&P 500 High Income ETF Company Profile

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.