Amplify High Income ETF (NYSEARCA:YYY) Sees Large Volume Increase – Still a Buy?

Amplify High Income ETF (NYSEARCA:YYY) saw unusually-high trading volume on Monday . Approximately 388,782 shares changed hands during mid-day trading, an increase of 45% from the previous session’s volume of 267,303 shares.The stock last traded at $11.34 and had previously closed at $11.41.

Amplify High Income ETF Trading Down 0.7 %

The firm has a market capitalization of $539.07 million, a P/E ratio of 23.03 and a beta of 0.73. The stock has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $11.95.

Amplify High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 12.72%.

Hedge Funds Weigh In On Amplify High Income ETF

Several institutional investors have recently bought and sold shares of the stock. CreativeOne Wealth LLC boosted its position in shares of Amplify High Income ETF by 8.3% during the third quarter. CreativeOne Wealth LLC now owns 62,623 shares of the company’s stock valued at $772,000 after buying an additional 4,812 shares during the period. HighTower Advisors LLC raised its holdings in Amplify High Income ETF by 2.1% in the third quarter. HighTower Advisors LLC now owns 138,900 shares of the company’s stock worth $1,713,000 after purchasing an additional 2,900 shares in the last quarter. World Investment Advisors LLC lifted its holdings in shares of Amplify High Income ETF by 30.9% during the 3rd quarter. World Investment Advisors LLC now owns 15,110 shares of the company’s stock valued at $186,000 after purchasing an additional 3,571 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Amplify High Income ETF in the fourth quarter valued at about $4,923,000. Finally, Oxinas Partners Wealth Management LLC purchased a new position in shares of Amplify High Income ETF in the 4th quarter valued at approximately $170,000.

Amplify High Income ETF Company Profile

The Amplify High Income ETF (YYY) is an exchange-traded fund that is based on the ISE High Income index. The fund tracks an index of US-listed closed-end funds, weighted by yield, discount to NAV, and trading volume. There are no restrictions on the assets or strategies of the underlying funds. YYY was launched on Jun 12, 2013 and is managed by Amplify.