AB US High Dividend ETF (NYSEARCA:HIDV) Sees Significant Growth in Short Interest

by · The Markets Daily

AB US High Dividend ETF (NYSEARCA:HIDV – Get Free Report) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 7,242 shares, an increase of 496.0% from the February 12th total of 1,215 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 12,960 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 12,960 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On AB US High Dividend ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIDV. Royal Bank of Canada acquired a new position in shares of AB US High Dividend ETF in the 4th quarter valued at $50,000. PNC Financial Services Group Inc. purchased a new stake in shares of AB US High Dividend ETF in the 3rd quarter valued at approximately $64,000. Osaic Holdings Inc. raised its stake in AB US High Dividend ETF by 34.3% in the second quarter. Osaic Holdings Inc. now owns 4,408 shares of the company’s stock valued at $323,000 after buying an additional 1,127 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of AB US High Dividend ETF during the 3rd quarter worth approximately $419,000. Finally, Kingsview Wealth Management LLC increased its position in shares of AB US High Dividend ETF by 74.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,403 shares of the company’s stock worth $758,000 after purchasing an additional 3,998 shares in the last quarter.

AB US High Dividend ETF Price Performance

NYSEARCA:HIDV traded down $1.15 during trading hours on Thursday, reaching $79.47. The company had a trading volume of 10,637 shares, compared to its average volume of 17,374. The firm has a market cap of $143.05 million, a PE ratio of 17.91 and a beta of 0.97. AB US High Dividend ETF has a 1-year low of $59.88 and a 1-year high of $84.25. The business’s 50 day moving average price is $82.27 and its 200-day moving average price is $80.30.

About AB US High Dividend ETF

(Get Free Report)

The AB US High Dividend ETF (HIDV) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed fund of high dividend-paying companies. Selection is based on a proprietary systemic approach of large- and mid-cap US stocks. HIDV was launched on Mar 22, 2023 and is managed by AllianceBernstein.

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