Global X Alternative Income ETF (NASDAQ:ALTY) Sees Significant Drop in Short Interest

Global X Alternative Income ETF (NASDAQ:ALTY) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 3,096 shares, a decrease of 84.6% from the August 31st total of 20,141 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 13,218 shares, the days-to-cover ratio is presently 0.2 days.

Global X Alternative Income ETF Stock Down 0.6%

Shares of NASDAQ:ALTY opened at $11.91 on Friday. The firm has a fifty day moving average of $12.28 and a two-hundred day moving average of $12.28. Global X Alternative Income ETF has a 12-month low of $11.65 and a 12-month high of $12.58. The firm has a market capitalization of $47.28 million, a P/E ratio of 17.85 and a beta of 0.59.

Global X Alternative Income ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, September 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This is a positive change from Global X Alternative Income ETF’s previous monthly dividend of $0.0790. This represents a $0.96 dividend on an annualized basis and a yield of 8.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. purchased a new stake in shares of Global X Alternative Income ETF during the 4th quarter worth about $45,000. Private Advisor Group LLC increased its holdings in Global X Alternative Income ETF by 48.0% in the first quarter. Private Advisor Group LLC now owns 15,600 shares of the company’s stock worth $187,000 after buying an additional 5,061 shares during the last quarter. Cetera Investment Advisers acquired a new position in Global X Alternative Income ETF in the first quarter worth approximately $479,000. Kingsview Wealth Management LLC increased its holdings in Global X Alternative Income ETF by 36.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 42,159 shares of the company’s stock worth $503,000 after buying an additional 11,242 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Global X Alternative Income ETF by 13.9% during the first quarter. Bank of America Corp DE now owns 47,996 shares of the company’s stock valued at $577,000 after acquiring an additional 5,872 shares in the last quarter.

About Global X Alternative Income ETF

The Global X Alternative Income ETF (ALTY) is an exchange-traded fund that is based on the Indxx SuperDividend Alternatives index. The fund tracks an index consisting of a variety of assets such as equity, debt securities and covered calls. Selected based on high dividend yield and low volatility. ALTY was launched on Jul 14, 2015 and is managed by Global X.