Absolute Select Value ETF (NYSEARCA:ABEQ) Sees Large Drop in Short Interest

Absolute Select Value ETF (NYSEARCA:ABEQ) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 4,297 shares, a drop of 76.3% from the September 15th total of 18,129 shares. Based on an average trading volume of 12,240 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Absolute Select Value ETF Trading Up 0.8%

NYSEARCA:ABEQ traded up $0.32 during midday trading on Monday, hitting $38.14. 1,300 shares of the stock were exchanged, compared to its average volume of 13,592. Absolute Select Value ETF has a one year low of $34.31 and a one year high of $40.08. The company has a market capitalization of $141.11 million, a price-to-earnings ratio of 18.77 and a beta of 0.45. The business has a 50-day moving average price of $38.51 and a two-hundred day moving average price of $37.91.

Absolute Select Value ETF Company Profile

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.