Amplify High Income ETF (NYSEARCA:YYY) Sees Large Volume Increase – Time to Buy?

Amplify High Income ETF (NYSEARCA:YYY) shares saw unusually-strong trading volume on Thursday. 2,909,094 shares traded hands during trading, an increase of 622% from the previous session’s volume of 402,898 shares. The stock last traded at $10.2950 and had previously closed at $10.20.

Amplify High Income ETF Stock Performance

The stock has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $11.25. The firm has a market cap of $651.79 million, a PE ratio of 22.17 and a beta of 0.73.

Institutional Trading of Amplify High Income ETF

Hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC grew its stake in shares of Amplify High Income ETF by 12.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,438 shares of the company’s stock worth $190,000 after purchasing an additional 1,824 shares during the period. Independent Wealth Network Inc. increased its holdings in shares of Amplify High Income ETF by 1.8% during the 1st quarter. Independent Wealth Network Inc. now owns 182,217 shares of the company’s stock valued at $2,010,000 after purchasing an additional 3,272 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Amplify High Income ETF by 35.8% during the 1st quarter. Arkadios Wealth Advisors now owns 18,982 shares of the company’s stock valued at $209,000 after purchasing an additional 5,001 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Amplify High Income ETF in the 1st quarter valued at $66,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Amplify High Income ETF in the 1st quarter valued at $70,000.

Amplify High Income ETF Company Profile

The Amplify High Income ETF (YYY) is an exchange-traded fund that is based on the ISE High Income index. The fund tracks an index of US-listed closed-end funds, weighted by yield, discount to NAV, and trading volume. There are no restrictions on the assets or strategies of the underlying funds. YYY was launched on Jun 12, 2013 and is managed by Amplify.