Simplify US Equity PLUS Convexity ETF (NYSEARCA:SPYC) Sees Significant Drop in Short Interest

Simplify US Equity PLUS Convexity ETF (NYSEARCA:SPYC) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 7,171 shares, a decline of 61.4% from the July 30th total of 18,558 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 19,449 shares, the short-interest ratio is presently 0.4 days.

Simplify US Equity PLUS Convexity ETF Stock Performance

Shares of SPYC stock traded down $0.19 during trading hours on Friday, reaching $46.81. The company had a trading volume of 4,120 shares, compared to its average volume of 9,780. The stock has a fifty day moving average of $45.97 and a 200-day moving average of $43.95. The company has a market capitalization of $115.62 million, a price-to-earnings ratio of 26.87 and a beta of 0.99. Simplify US Equity PLUS Convexity ETF has a 12-month low of $38.50 and a 12-month high of $48.96.

Institutional Trading of Simplify US Equity PLUS Convexity ETF

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Simplify US Equity PLUS Convexity ETF in the 2nd quarter worth $48,000. Modern Wealth Management LLC purchased a new stake in shares of Simplify US Equity PLUS Convexity ETF in the second quarter valued at about $230,000. Osaic Holdings Inc. purchased a new stake in shares of Simplify US Equity PLUS Convexity ETF in the second quarter valued at about $67,000. Susquehanna International Group LLP increased its position in Simplify US Equity PLUS Convexity ETF by 16.3% during the third quarter. Susquehanna International Group LLP now owns 6,803 shares of the company’s stock worth $292,000 after purchasing an additional 951 shares during the last quarter. Finally, Kingdom Financial Group LLC. acquired a new stake in Simplify US Equity PLUS Convexity ETF during the fourth quarter worth about $79,000.

About Simplify US Equity PLUS Convexity ETF

The Simplify US Equity PLUS Convexity ETF (SPYC) is an exchange-traded fund that is based on the S&P 500 index. The fund is an actively managed, fund-of-funds that provides exposure to the S&P 500 with a systematic options overlay strategy. The overlay strategy seeks to enhance upside potential and hedge downside risk. SPYC was launched on Sep 3, 2020 and is managed by Simplify.