YieldMax Ultra Option Income Strategy ETF (NYSEARCA:ULTY) Shares Down 7.4% – Should You Sell?

YieldMax Ultra Option Income Strategy ETF (NYSEARCA:ULTY)’s share price traded down 7.4% during trading on Thursday . The stock traded as low as $5.73 and last traded at $5.76. 2,014,095 shares changed hands during trading, an increase of 78% from the average session volume of 1,130,085 shares. The stock had previously closed at $6.22.

YieldMax Ultra Option Income Strategy ETF Trading Down 5.4 %

The company has a market cap of $188.30 million, a price-to-earnings ratio of 24.39 and a beta of 1.59. The stock has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $8.96.

YieldMax Ultra Option Income Strategy ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 27th were paid a $0.1025 dividend. The ex-dividend date was Thursday, March 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in shares of YieldMax Ultra Option Income Strategy ETF during the fourth quarter worth $97,000. Coppell Advisory Solutions LLC increased its position in shares of YieldMax Ultra Option Income Strategy ETF by 34.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 5,515 shares of the company’s stock valued at $50,000 after buying an additional 1,416 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in YieldMax Ultra Option Income Strategy ETF during the 4th quarter worth $393,000.

YieldMax Ultra Option Income Strategy ETF Company Profile

The YieldMax Ultra Option Income Strategy ETF (ULTY) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, seeking to provide monthly income through a portfolio of covered call strategies. The fund generates income via option premiums, dividends from directly held US stocks, and US treasuries ULTY was launched on Feb 28, 2024 and is issued by YieldMax.