The YieldMax Target 12 Big 50 Option Income ETF (NYSEARCA:BIGY) experienced a substantial rise in short interest, marking a notable shift in investor sentiment. As of December 31, 2023, short interest in the fund surged to a total of 51,640 shares, reflecting an increase of 630.0% from 7,074 shares reported on December 15, 2023. This increase corresponds to approximately 12.9% of the ETF’s outstanding shares being sold short.
This dramatic rise in short interest suggests growing bearish sentiment among investors, as they anticipate a decline in the ETF’s value. With an average daily trading volume of 14,929 shares, the current short-interest ratio stands at 3.5 days, indicating how long it would take for all short positions to be covered based on this average trading rate.
Current Trading Performance
On the trading front, shares of the YieldMax Target 12 Big 50 ETF opened at $52.80 on Tuesday. The ETF has shown resilience with its fifty-day moving average price at $52.83 and a two-hundred-day moving average at $51.89. Over the past twelve months, the ETF has faced volatility, recording a low of $40.00 and a high of $54.64.
The market capitalization of the YieldMax Target 12 Big 50 ETF currently stands at $21.12 million, with a price-to-earnings (P/E) ratio of 29.68 and a beta value of 0.98, indicating its relatively stable performance compared to the broader market.
As investors continue to assess the implications of the increased short interest, it remains to be seen how this will influence the ETF’s future trading dynamics and overall market perception.
