S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) Sees Significant Growth in Short Interest

S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 90,813 shares, a growth of 84.9% from the September 30th total of 49,116 shares. Based on an average daily volume of 29,479 shares, the short-interest ratio is currently 3.1 days. Currently, 3.6% of the company’s shares are short sold.

Hedge Funds Weigh In On S&P 500 Covered Call & Growth ETF

An institutional investor recently raised its position in S&P 500 Covered Call & Growth ETF stock. Janney Montgomery Scott LLC lifted its stake in shares of S&P 500 Covered Call & Growth ETF (NYSEARCA:XYLG) by 377.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,763 shares of the company’s stock after acquiring an additional 40,139 shares during the quarter. Janney Montgomery Scott LLC owned about 2.22% of S&P 500 Covered Call & Growth ETF worth $1,334,000 at the end of the most recent reporting period.

S&P 500 Covered Call & Growth ETF Stock Performance

XYLG opened at $29.20 on Friday. The business’s 50-day simple moving average is $29.59 and its 200-day simple moving average is $28.49. S&P 500 Covered Call & Growth ETF has a one year low of $25.63 and a one year high of $30.04. The stock has a market capitalization of $72.71 million, a P/E ratio of 25.30 and a beta of 0.75.

About S&P 500 Covered Call & Growth ETF

The Global X S&P 500 Covered Call & Growth ETF (XYLG) is an exchange-traded fund that is based on the Cboe S&P 500 Half BuyWrite index. The fund tracks an index of S&P 500 stocks and sells one-month, at-the-money call options on up to 50% of each stock. XYLG was launched on Sep 18, 2020 and is managed by Global X.