Global X Alternative Income ETF (NASDAQ:ALTY) Stock Short Interest Drops 49.7%

Global X Alternative Income ETF (NASDAQ:ALTY) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,556 shares, a decrease of 49.7% from the September 15th total of 3,096 shares. Based on an average daily volume of 15,934 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Global X Alternative Income ETF

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its position in shares of Global X Alternative Income ETF by 17.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,813 shares of the company’s stock worth $755,000 after buying an additional 8,940 shares during the period. Bank of America Corp DE increased its stake in shares of Global X Alternative Income ETF by 13.9% in the 1st quarter. Bank of America Corp DE now owns 47,996 shares of the company’s stock valued at $577,000 after acquiring an additional 5,872 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Global X Alternative Income ETF in the 1st quarter valued at about $479,000. Finally, Private Advisor Group LLC raised its position in shares of Global X Alternative Income ETF by 48.0% in the 1st quarter. Private Advisor Group LLC now owns 15,600 shares of the company’s stock valued at $187,000 after acquiring an additional 5,061 shares during the period.

Global X Alternative Income ETF Price Performance

Shares of NASDAQ ALTY traded down $0.07 during midday trading on Wednesday, hitting $11.66. The stock had a trading volume of 4,596 shares, compared to its average volume of 19,144. The company’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $12.24. The firm has a market cap of $45.26 million, a P/E ratio of 17.85 and a beta of 0.60. Global X Alternative Income ETF has a fifty-two week low of $11.65 and a fifty-two week high of $12.58.

Global X Alternative Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Monday, October 5th were given a dividend of $0.08 per share. The ex-dividend date was Monday, October 5th. This represents a $0.96 annualized dividend and a dividend yield of 8.2%.

About Global X Alternative Income ETF

The Global X Alternative Income ETF (ALTY) is an exchange-traded fund that is based on the Indxx SuperDividend Alternatives index. The fund tracks an index consisting of a variety of assets such as equity, debt securities and covered calls. Selected based on high dividend yield and low volatility. ALTY was launched on Jul 14, 2015 and is managed by Global X.