VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Sees Large Decrease in Short Interest

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 19,808 shares, a drop of 37.1% from the September 15th total of 31,478 shares. Based on an average daily volume of 36,416 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MODL. Bank of America Corp DE increased its position in shares of VictoryShares WestEnd US Sector ETF by 48,293.9% during the first quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock worth $43,254,000 after acquiring an additional 965,878 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings 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 acquiring an additional 189,095 shares during the last quarter. Royal Bank of Canada raised its holdings 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 acquiring an additional 107,520 shares during the last quarter. Fairvoy Private Wealth LLC bought a new position in VictoryShares WestEnd US Sector ETF in the 1st quarter valued at about $3,266,000. Finally, Rockefeller Capital Management L.P. lifted its position in VictoryShares WestEnd US Sector ETF by 5.9% in the 4th 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 in the last quarter. 29.49% of the stock is currently owned by institutional investors and hedge funds.

VictoryShares WestEnd US Sector ETF Trading Up 0.6%

Shares of MODL stock opened at $53.15 on Friday. The firm has a market capitalization of $1.09 billion, a PE ratio of 59.72 and a beta of 0.94. The firm has a fifty day simple moving average of $52.78 and a two-hundred day simple moving average of $50.83. VictoryShares WestEnd US Sector ETF has a 12 month low of $43.38 and a 12 month high of $53.45.

VictoryShares WestEnd US Sector ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 8th were paid a $0.0223 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 0.5%. This is a negative change from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. The ex-dividend date of this dividend was Thursday, October 8th. VictoryShares WestEnd US Sector ETF’s payout ratio is 39.33%.

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.