NEOS S&P 500 High Income ETF (BATS:SPYI) Hits New 1-Year High – Still a Buy?

NEOS S&P 500 High Income ETF (BATS:SPYI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.26 and last traded at $54.26, with a volume of 905406 shares traded. The stock had previously closed at $54.18.

NEOS S&P 500 High Income ETF Trading Down 0.2%

The stock has a 50 day simple moving average of $53.09 and a 200 day simple moving average of $52.36. The firm has a market capitalization of $4.47 billion, a PE ratio of 25.58 and a beta of 0.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. United Community Bank bought a new stake in NEOS S&P 500 High Income ETF during the 4th quarter valued at $26,000. HFM Investment Advisors LLC bought a new stake in NEOS S&P 500 High Income ETF in the 4th quarter worth $27,000. Root Financial Partners LLC increased its position in shares of NEOS S&P 500 High Income ETF by 79.2% in the first quarter. Root Financial Partners LLC now owns 577 shares of the company’s stock valued at $28,000 after acquiring an additional 255 shares during the period. Optima Capital LLC purchased a new position in shares of NEOS S&P 500 High Income ETF in the fourth quarter valued at about $37,000. Finally, Advocate Investing Services LLC purchased a new position in shares of NEOS S&P 500 High Income ETF in the first quarter valued at about $39,000.

About NEOS S&P 500 High Income ETF

The Neos S&P 500(R) High Income ETF (SPYI) is an exchange-traded fund that mostly invests in total market equity. The fund aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts. SPYI was launched on Aug 30, 2022 and is managed by Neos.