ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) Shares Shorted: Short Interest Down 83.3% in October

ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) saw a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 2,329 shares, a decline of 83.3% from the October 15th total of 13,963 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 282,168 shares, the short-interest ratio is presently 0.0 days.

ETRACS Silver Shares Covered Call ETN Stock Down 3.3%

NASDAQ:SLVO traded down $1.79 during trading hours on Thursday, hitting $52.97. The company had a trading volume of 227,382 shares, compared to its average volume of 150,363. ETRACS Silver Shares Covered Call ETN has a 1 year low of $51.72 and a 1 year high of $107.41. The company has a 50-day moving average of $63.03 and a 200 day moving average of $77.47.

ETRACS Silver Shares Covered Call ETN Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 20th will be given a dividend of $1.2250 per share. This represents a $14.70 annualized dividend and a dividend yield of 27.8%. The ex-dividend date of this dividend is Friday, November 20th. This is a negative change from ETRACS Silver Shares Covered Call ETN’s previous monthly dividend of $1.7010.

Institutional Investors Weigh In On ETRACS Silver Shares Covered Call ETN

A hedge fund recently raised its stake in ETRACS Silver Shares Covered Call ETN stock. Claris Financial LLC increased its position in shares of ETRACS Silver Shares Covered Call ETN (NASDAQ:SLVO) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,095 shares of the company’s stock after purchasing an additional 2,377 shares during the period. Claris Financial LLC owned 0.36% of ETRACS Silver Shares Covered Call ETN worth $1,252,000 at the end of the most recent quarter.

About ETRACS Silver Shares Covered Call ETN

ETRACS Silver Shares Covered Call ETN (NASDAQ: SLVO) is an exchange-traded note listed in the United States that provides investors with a packaged exposure to silver coupled with an options overlay. The product is structured to deliver returns that reflect the performance of a long position in shares representing physical silver together with the income and payoff profile generated by a covered call strategy. As an ETN, SLVO is an unsecured debt instrument whose economic return is tied to the referenced strategy rather than to ownership of a separate pool of assets.