Sound Equity Dividend Income ETF (NYSEARCA:DIVY) Trading Up 1.5% – Still a Buy?

Sound Equity Dividend Income ETF (NYSEARCA:DIVY)’s share price shot up 1.5% on Wednesday . The stock traded as high as $25.78 and last traded at $25.73. 1,350 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 6,272 shares. The stock had previously closed at $25.35.

Sound Equity Dividend Income ETF Stock Up 1.5 %

The firm’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $26.32. The firm has a market capitalization of $27.79 million, a PE ratio of 10.99 and a beta of 0.73.

Institutional Investors 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 acquired a new stake in Sound Equity Dividend Income ETF (NYSEARCA:DIVY) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,506 shares of the company’s stock, valued at approximately $176,000. Farther Finance Advisors LLC owned about 0.60% of Sound Equity Dividend Income ETF as of its most recent filing with the Securities & Exchange Commission.

About Sound Equity Dividend Income ETF

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.