Amplify Digital Payments ETF (NYSEARCA:IPAY) Sees Large Growth in Short Interest

Amplify Digital Payments ETF (NYSEARCA:IPAY) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 130,679 shares, an increase of 197.9% from the August 15th total of 43,866 shares. Based on an average trading volume of 44,358 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Amplify Digital Payments ETF

A number of large investors have recently added to or reduced their stakes in IPAY. Y.D. More Investments Ltd bought a new stake in shares of Amplify Digital Payments ETF during the 1st quarter valued at $33,000. Fifth Third Bancorp acquired a new position in Amplify Digital Payments ETF in the first quarter valued at about $47,000. Parallel Advisors LLC raised its stake in Amplify Digital Payments ETF by 195.0% in the first quarter. Parallel Advisors LLC now owns 1,475 shares of the company’s stock valued at $63,000 after purchasing an additional 975 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Amplify Digital Payments ETF during the second quarter worth about $75,000. Finally, Wealthfront Advisers LLC grew its stake in Amplify Digital Payments ETF by 10.3% during the first quarter. Wealthfront Advisers LLC now owns 9,792 shares of the company’s stock worth $419,000 after buying an additional 917 shares in the last quarter.

Amplify Digital Payments ETF Trading Up 1.3%

NYSEARCA IPAY traded up $0.65 during trading on Monday, reaching $50.08. The company’s stock had a trading volume of 82,047 shares, compared to its average volume of 44,772. The firm has a 50 day moving average price of $50.33 and a 200 day moving average price of $46.89. Amplify Digital Payments ETF has a 12 month low of $41.26 and a 12 month high of $60.01. The firm has a market capitalization of $180.29 million, a price-to-earnings ratio of 22.03 and a beta of 1.22.

About Amplify Digital Payments ETF

The ETFMG Prime Mobile Payments ETF (IPAY) is an exchange-traded fund that is based on the Prime Mobile Payments index. The fund tracks an index of global equity in credit card firms, and companies providing payment infrastructure, payment services, payment processing and payment solutions. IPAY was launched on Jul 15, 2015 and is managed by ETF Managers Group.