Fairlead Tactical Sector ETF (NYSEARCA:TACK) Sees Significant Decline in Short Interest

Fairlead Tactical Sector ETF (NYSEARCA:TACK) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,604 shares, a drop of 42.4% from the August 31st total of 4,520 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 9,548 shares, the short-interest ratio is presently 0.3 days.

Fairlead Tactical Sector ETF Price Performance

Shares of NYSEARCA TACK traded down $0.23 during midday trading on Wednesday, hitting $31.37. The stock had a trading volume of 10,026 shares, compared to its average volume of 22,541. The company’s 50-day simple moving average is $32.30 and its 200 day simple moving average is $31.52. The firm has a market cap of $286.72 million, a P/E ratio of 17.28 and a beta of 0.51. Fairlead Tactical Sector ETF has a fifty-two week low of $28.97 and a fifty-two week high of $33.03.

Fairlead Tactical Sector ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Monday, September 28th will be issued a dividend of $0.0958 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $0.38 dividend on an annualized basis and a yield of 1.2%. This is a drop from Fairlead Tactical Sector ETF’s previous quarterly dividend of $0.1310.

Institutional Investors Weigh In On Fairlead Tactical Sector ETF

Institutional investors have recently made changes to their positions in the stock. Insight Wealth Partners LLC grew its position in shares of Fairlead Tactical Sector ETF by 3.4% during the 2nd quarter. Insight Wealth Partners LLC now owns 63,671 shares of the company’s stock worth $2,014,000 after buying an additional 2,088 shares during the period. NewEdge Advisors LLC boosted its stake in Fairlead Tactical Sector ETF by 10.1% during the 2nd quarter. NewEdge Advisors LLC now owns 100,482 shares of the company’s stock worth $3,178,000 after acquiring an additional 9,194 shares during the last quarter. Evernest Financial Advisors LLC boosted its stake in Fairlead Tactical Sector ETF by 59.2% during the 1st quarter. Evernest Financial Advisors LLC now owns 541,504 shares of the company’s stock worth $16,619,000 after acquiring an additional 201,285 shares during the last quarter. NBZ Investment Advisors LLC grew its holdings in Fairlead Tactical Sector ETF by 0.3% during the first quarter. NBZ Investment Advisors LLC now owns 319,396 shares of the company’s stock valued at $9,709,000 after purchasing an additional 877 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Fairlead Tactical Sector ETF during the first quarter valued at approximately $272,000.

About Fairlead Tactical Sector ETF

The Fairlead Tactical Sector Fund (TACK) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund relies on a proprietary, technical model to actively manage a US large-cap sector rotation strategy. During periods deemed risk-off, the fund toggles the exposure to short- or long-term US Treasurys or gold TACK was launched on Mar 23, 2022 and is managed by Fairlead.