VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Sees Strong Trading Volume – Here’s Why

Shares of VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) saw an uptick in trading volume on Wednesday. 149,261 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 73,980 shares. The stock last traded at $53.29 and had previously closed at $53.35.

VictoryShares WestEnd US Sector ETF Price Performance

The stock’s 50 day moving average is $52.57 and its 200-day moving average is $50.40. The company has a market capitalization of $1.08 billion, a P/E ratio of 59.94 and a beta of 0.94.

VictoryShares WestEnd US Sector ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, September 9th were issued a $0.0475 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 1.1%. This is a positive change from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0137. The ex-dividend date was Wednesday, September 9th. VictoryShares WestEnd US Sector ETF’s dividend payout ratio is currently 41.57%.

Institutional Investors Weigh In On VictoryShares WestEnd US Sector ETF

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in VictoryShares WestEnd US Sector ETF by 48,293.9% during the 1st quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock valued at $43,254,000 after buying an additional 965,878 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of VictoryShares WestEnd US Sector ETF by 97.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 383,308 shares of the company’s stock worth $19,537,000 after buying an additional 189,095 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of VictoryShares WestEnd US Sector ETF by 29.5% in the 1st quarter. Royal Bank of Canada now owns 472,306 shares of the company’s stock worth $21,107,000 after buying an additional 107,520 shares during the last quarter. Fairvoy Private Wealth LLC bought a new stake in shares of VictoryShares WestEnd US Sector ETF in the first quarter worth $3,266,000. Finally, Rockefeller Capital Management L.P. increased its position in VictoryShares WestEnd US Sector ETF by 5.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 539,939 shares of the company’s stock valued at $25,658,000 after acquiring an additional 30,182 shares during the last quarter. 29.49% of the stock is owned by hedge funds and other institutional investors.

VictoryShares WestEnd US Sector ETF Company Profile

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.