Short Interest in ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) Rises By 123.1%

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 2,680 shares, a growth of 123.1% from the July 30th total of 1,201 shares. Based on an average daily volume of 1,839 shares, the short-interest ratio is presently 1.5 days. Currently, 0.4% of the company’s shares are sold short.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Stock Performance

Shares of PFFL opened at $7.39 on Monday. ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN has a 12-month low of $7.25 and a 12-month high of $9.22. The company’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.86.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, August 20th. Shareholders of record on Wednesday, August 12th were given a $0.0779 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a c) annualized dividend and a yield of 12.6%. This is an increase from ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN’s previous monthly dividend of $0.03.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Company Profile

The ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN (PFFL) is an exchange-traded fund that is based on the Solactive Preferred Stock ETF index. The fund tracks twice the monthly returns of a market-value-selected and -weighted index of preferred securities from various issuers. PFFL was launched on Sep 25, 2018 and is issued by ETRACS.