Short Interest in Absolute Select Value ETF (NYSEARCA:ABEQ) Increases By 4,400.6%

Absolute Select Value ETF (NYSEARCA:ABEQ) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 7,246 shares, an increase of 4,400.6% from the July 30th total of 161 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 9,712 shares, the days-to-cover ratio is presently 0.7 days.

Absolute Select Value ETF Stock Performance

Shares of NYSEARCA ABEQ traded down $0.08 during trading hours on Tuesday, hitting $39.37. 14,368 shares of the stock were exchanged, compared to its average volume of 14,711. The company’s fifty day simple moving average is $38.03 and its two-hundred day simple moving average is $38.02. The company has a market cap of $147.64 million, a PE ratio of 18.77 and a beta of 0.45. Absolute Select Value ETF has a 1-year low of $34.31 and a 1-year high of $40.08.

About Absolute Select Value ETF

The Absolute Select Value ETF (ABEQ) is an exchange-traded fund that is based on the SSGA Total Stock Market index. The fund is an actively-managed portfolio of US stocks seeking positive absolute returns. ABEQ was launched on Jan 22, 2020 and is managed by Absolute.