WisdomTree Alternative Income Fund (BATS:HYIN) Stock Price Down 2.5% – Here’s Why

WisdomTree Alternative Income Fund (BATS:HYIN) shares were down 2.5% during mid-day trading on Friday . The stock traded as low as $18.02 and last traded at $17.49. Approximately 52,636 shares were traded during trading, an increase of 44% from the average daily volume of 36,491 shares. The stock had previously closed at $17.93.

WisdomTree Alternative Income Fund Price Performance

The company has a market cap of $61.21 million, a price-to-earnings ratio of 9.57 and a beta of 0.99. The firm’s fifty day moving average price is $17.38 and its 200-day moving average price is $17.23.

Hedge Funds Weigh In On WisdomTree Alternative Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of HYIN. Wedbush Securities Inc. boosted its holdings in shares of WisdomTree Alternative Income Fund by 39.4% during the first quarter. Wedbush Securities Inc. now owns 41,394 shares of the company’s stock valued at $737,000 after acquiring an additional 11,700 shares during the period. Cetera Investment Advisers acquired a new position in shares of WisdomTree Alternative Income Fund during the first quarter valued at $262,000. Founders Financial Alliance LLC acquired a new position in shares of WisdomTree Alternative Income Fund during the first quarter valued at $44,000. Finally, Jane Street Group LLC acquired a new position in shares of WisdomTree Alternative Income Fund during the first quarter valued at $475,000.

About WisdomTree Alternative Income Fund

The WisdomTree Alternative Income Fund (HYIN) is an exchange-traded fund that is based on the Gapstow Liquid Alternative Credit index. The fund tracks an equal-weighted index of 35 publicly traded alternative credit vehicles (PACs). The selection of PACs is based on related exposure to alternative credit and trading requirements.