VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) Sees Large Drop in Short Interest

VictoryShares WestEnd US Sector ETF (NASDAQ:MODL) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totaling 19,808 shares, a decline of 37.1% from the September 15th total of 31,478 shares. Based on an average daily volume of 36,416 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of VictoryShares WestEnd US Sector ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in VictoryShares WestEnd US Sector ETF by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,288,857 shares of the company’s stock worth $57,599,000 after buying an additional 24,925 shares during the period. Bank of America Corp DE grew its stake in VictoryShares WestEnd US Sector ETF by 48,293.9% in the first quarter. Bank of America Corp DE now owns 967,878 shares of the company’s stock valued at $43,254,000 after acquiring an additional 965,878 shares during the period. Rockefeller Capital Management L.P. grew its stake in VictoryShares WestEnd US Sector ETF by 5.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,939 shares of the company’s stock valued at $25,658,000 after acquiring an additional 30,182 shares during the period. Royal Bank of Canada grew its stake in VictoryShares WestEnd US Sector ETF by 29.5% in the first quarter. Royal Bank of Canada now owns 472,306 shares of the company’s stock valued at $21,107,000 after acquiring an additional 107,520 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of VictoryShares WestEnd US Sector ETF by 97.4% during the second quarter. Envestnet Asset Management Inc. now owns 383,308 shares of the company’s stock valued at $19,537,000 after acquiring an additional 189,095 shares in the last quarter. 29.49% of the stock is owned by institutional investors.

VictoryShares WestEnd US Sector ETF Trading Up 0.6%

MODL opened at $53.15 on Friday. The company has a fifty day moving average price of $52.78 and a two-hundred day moving average price of $50.83. VictoryShares WestEnd US Sector ETF has a 1-year low of $43.38 and a 1-year high of $53.45. The company has a market cap of $1.09 billion, a P/E ratio of 59.72 and a beta of 0.94.

VictoryShares WestEnd US Sector ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 8th were paid a $0.0223 dividend. The ex-dividend date was Thursday, October 8th. This represents a $0.27 annualized dividend and a dividend yield of 0.5%. This is a drop from VictoryShares WestEnd US Sector ETF’s previous monthly dividend of $0.0475. VictoryShares WestEnd US Sector ETF’s dividend payout ratio (DPR) is 39.33%.

About VictoryShares WestEnd US Sector ETF

M*Modal IP LLC, formerly known as Medquist Holdings, Inc, is a United States-based company, which provides clinical transcription services, clinical documentation workflow solutions, cloud-based Speech Understanding technology, and unstructured data analytics. The Company also offers voice to text solutions to capture the patient story, codifies the doctors narrative to populate EHRs and other healthcare information systems, delivers computer-assisted coding to support ICD-9 and the transition to ICD-10, and provides analytical tools.