Highland/iBoxx Senior Loan ETF (NASDAQ:SNLN) Short interest down 73.5% in May

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Highland/iBoxx Senior Loan ETF (NASDAQ: SNLN – Get Rating) benefited from a sharp drop in short-term interest rates in May. As of May 15, there was short interest totaling 2,700 shares, down 73.5% from the total of 10,200 shares as of April 30. Based on an average trading volume of 23,300 shares, the day-to-cover ratio is currently 0.1 day.

The NASDAQ SNLN opened at $14.92 on Thursday. The company has a 50-day moving average price of $15.48 and a 200-day moving average price of $15.71. Highland/iBoxx Senior Loan ETF has a 52-week minimum of $14.92 and a 52-week maximum of $16.24.

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 31. Investors of record on Monday, May 16 will receive a dividend of $0.052 per share. This represents an annualized dividend of $0.62 and a dividend yield of 4.18%. The ex-dividend date is Friday, May 13. This is a positive change from Highland/iBoxx Senior Loan ETF’s previous monthly dividend of $0.03.

Hedge funds and other institutional investors have recently been buying and selling stocks. OLD Mission Capital LLC acquired a new position in Highland/iBoxx Senior Loan ETF during Q3, valued at approximately $971,000. Morgan Stanley increased its stake in Highland/iBoxx Senior Loan ETF by 8.5% during the second quarter. Morgan Stanley now owns 149,832 shares of the company valued at $2,418,000 after buying an additional 11,744 shares last quarter. Wells Fargo & Company MN increased its stake in Highland/iBoxx Senior Loan ETF by 7.7% during Q2. Wells Fargo & Company MN now owns 29,092 shares of the company valued at $469,000 after purchasing an additional 2,089 shares last quarter. Truist Financial Corp increased its stake in Highland/iBoxx Senior Loan ETF by 43.1% during Q3. Truist Financial Corp now owns 15,379 shares of the company valued at $246,000 after buying an additional 4,634 shares last quarter. Finally, LPL Financial LLC increased its stake in Highland/iBoxx Senior Loan ETF by 7.9% during the 3rd quarter. LPL Financial LLC now owns 58,985 shares of the company valued at $944,000 after purchasing an additional 4,333 shares last quarter.

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