Hilton Small-MidCap Opportunity ETF (NASDAQ:SMCO) Stock Short Interest Declines 62.6%

Hilton Small-MidCap Opportunity ETF (NASDAQ:SMCO) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 19,388 shares, a drop of 62.6% from the August 31st total of 51,773 shares. Based on an average daily volume of 26,699 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Hilton Small-MidCap Opportunity ETF by 41.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 498,944 shares of the company’s stock valued at $15,467,000 after acquiring an additional 147,241 shares during the period. ZEGA Investments LLC acquired a new position in shares of Hilton Small-MidCap Opportunity ETF in the second quarter valued at approximately $406,000. Fulton Bank N.A. grew its position in shares of Hilton Small-MidCap Opportunity ETF by 54.6% in the second quarter. Fulton Bank N.A. now owns 228,516 shares of the company’s stock valued at $7,084,000 after purchasing an additional 80,684 shares during the last quarter. Crumly & Associates Inc. increased its stake in shares of Hilton Small-MidCap Opportunity ETF by 2.6% during the second quarter. Crumly & Associates Inc. now owns 461,501 shares of the company’s stock worth $14,307,000 after purchasing an additional 11,716 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of Hilton Small-MidCap Opportunity ETF during the first quarter worth approximately $55,000.

Hilton Small-MidCap Opportunity ETF Trading Down 0.6%

Shares of NASDAQ:SMCO traded down $0.17 on Tuesday, hitting $27.42. The company had a trading volume of 3,490 shares, compared to its average volume of 22,470. Hilton Small-MidCap Opportunity ETF has a 1-year low of $25.45 and a 1-year high of $31.17. The stock has a market cap of $132.99 million, a price-to-earnings ratio of 24.86 and a beta of 1.11. The stock has a 50 day moving average price of $29.30 and a 200 day moving average price of $29.23.

Hilton Small-MidCap Opportunity ETF Company Profile

The Hilton Small-MidCap Opportunity ETF (SMCO) is an exchange-traded fund that mostly invests in extended market equity. The fund is an actively managed fund that focuses on generating returns while minimizing risk through its proprietary Small & Mid Cap Opportunities investment process (SMCO), which attempts to identify undervalued US stocks in the small- and mid-cap space. SMCO was launched on Nov 28, 2023 and is issued by Hilton.