Amplify CWP Enhanced Dividend Income ETF (NYSEARCA:DIVO) Stock Breaks Below 50-Day Moving Average – Time to Sell?

Amplify CWP Enhanced Dividend Income ETF (NYSEARCA:DIVO)’s stock price passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $47.44 and traded as low as $47.29. Amplify CWP Enhanced Dividend Income ETF shares last traded at $47.31, with a volume of 838,202 shares changing hands.

Amplify CWP Enhanced Dividend Income ETF Stock Performance

The stock has a market cap of $8.04 billion, a P/E ratio of 20.69 and a beta of 0.63. The stock has a 50-day moving average price of $47.44 and a 200-day moving average price of $46.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DIVO. NFSG Corp bought a new position in Amplify CWP Enhanced Dividend Income ETF in the third quarter valued at $25,000. Colonial Trust Co SC purchased a new stake in Amplify CWP Enhanced Dividend Income ETF during the third quarter valued at about $30,000. Simplex Trading LLC bought a new stake in Amplify CWP Enhanced Dividend Income ETF during the third quarter worth about $40,000. Hantz Financial Services Inc. bought a new stake in Amplify CWP Enhanced Dividend Income ETF during the third quarter worth about $45,000. Finally, Tsfg LLC boosted its holdings in shares of Amplify CWP Enhanced Dividend Income ETF by 31.0% in the 2nd quarter. Tsfg LLC now owns 1,386 shares of the company’s stock worth $63,000 after purchasing an additional 328 shares in the last quarter.

About Amplify CWP Enhanced Dividend Income ETF

The Amplify CWP Enhanced Dividend Income ETF (DIVO) is an exchange-traded fund that is based on the S&P 500 Stock Covered Call index. The fund is an actively-managed ETF that provides income by selecting stocks from the S&P 500 Index overlaid with a tactical call writing strategy. DIVO was launched on Dec 14, 2016 and is managed by Amplify.