Sound Equity Dividend Income ETF (NYSEARCA:DIVY) Trading 0.5% Higher – Should You Buy?

Shares of Sound Equity Dividend Income ETF (NYSEARCA:DIVY) shot up 0.5% during trading on Wednesday . The stock traded as high as $26.20 and last traded at $26.20. 1,704 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 7,126 shares. The stock had previously closed at $26.07.

Sound Equity Dividend Income ETF Price Performance

The stock has a market cap of $28.04 million, a price-to-earnings ratio of 10.99 and a beta of 0.73. The stock’s 50 day simple moving average is $26.06 and its two-hundred day simple moving average is $26.39.

Hedge Funds Weigh In On Sound Equity Dividend Income ETF

An institutional investor recently bought a new position in Sound Equity Dividend Income ETF stock. Farther Finance Advisors LLC purchased a new stake in Sound Equity Dividend Income ETF (NYSEARCA:DIVY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,506 shares of the company’s stock, valued at approximately $176,000. Farther Finance Advisors LLC owned 0.60% of Sound Equity Dividend Income ETF at the end of the most recent reporting period.

Sound Equity Dividend Income ETF Company Profile

The Sound Equity Income ETF (DIVY) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed, narrow portfolio, of US large- and mid-cap stocks, fundamentally selected for capital appreciation and dividend yield. DIVY was launched on Dec 30, 2020 and is managed by Tidal.