Short interest in the Voya Infrastructure, Industrials and Materials Fund (NYSE: IDE) experienced a significant increase of 32.6% in December 2023. As of December 31, the total short interest reached 28,911 shares, up from 21,803 shares reported on December 15. Given the fund’s average daily trading volume of 45,142 shares, this brings the days-to-cover ratio to approximately 0.6 days.
Institutional Activity Reflects Growing Interest
Recent modifications to holdings by various hedge funds indicate a growing interest in Voya’s investment strategy. Bank of America Corp DE increased its stake in the fund by 10.5% during the second quarter, acquiring an additional 1,581 shares to reach a total of 16,610 shares, valued at about $194,000.
Similarly, Uhlmann Price Securities LLC raised its holdings by 20.5% in the third quarter, now owning 24,451 shares worth $297,000 after adding 4,157 shares. Another notable increase came from NWF Advisory Services Inc., which boosted its position by 7.6% during the same quarter, now holding 28,200 shares valued at $342,000.
Additionally, Bay Colony Advisory Group Inc. saw its holdings grow by an impressive 54.4% during the second quarter, bringing its total to 30,032 shares worth approximately $351,000. Farther Finance Advisors LLC experienced an extraordinary increase of 14,903.3%, now owning 49,961 shares valued at $584,000 after acquiring 49,628 shares in the last quarter.
Stock Performance and Investment Strategy
In mid-day trading on Monday, IDE shares rose by $0.17, reaching $12.92. The trading volume for the day was 134,614 shares, significantly higher than its average volume of 66,129 shares. The fund’s stock has a 52-week low of $8.75 and a 52-week high of $12.97. Its 50-day moving average price stands at $12.06, while the 200-day moving average is at $12.09.
The Voya Infrastructure, Industrials and Materials Fund operates as a closed-end management investment company, aiming for total return through a combination of current income and capital appreciation. The fund primarily invests in equity securities of companies involved in infrastructure, industrials, and materials, including utilities, transportation, and engineering. By focusing on firms with established cash flows and growth potential, the fund seeks to provide a blend of yield and long-term capital gains for its shareholders.
This recent uptick in short interest and institutional activity reflects a dynamic shift in investor sentiment towards the fund, highlighting its potential for continued growth and stability in an evolving market landscape.
