Short Interest in Federated Hermes U.S. Strategic Dividend ETF (NYSEARCA:FDV) Drops By 50.9%

Federated Hermes U.S. Strategic Dividend ETF (NYSEARCA:FDV) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 54,311 shares, a decrease of 50.9% from the April 30th total of 110,635 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 95,046 shares, the short-interest ratio is presently 0.6 days.

Federated Hermes U.S. Strategic Dividend ETF Stock Performance

NYSEARCA FDV traded down $0.22 on Monday, reaching $31.01. The company had a trading volume of 89,535 shares, compared to its average volume of 152,222. The firm has a market capitalization of $738.04 million, a price-to-earnings ratio of 16.95 and a beta of 0.53. Federated Hermes U.S. Strategic Dividend ETF has a 1-year low of $26.88 and a 1-year high of $35.11. The company’s fifty day moving average is $30.99 and its 200-day moving average is $30.27.

Hedge Funds Weigh In On Federated Hermes U.S. Strategic Dividend ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Federated Hermes U.S. Strategic Dividend ETF by 8.1% in the 1st quarter. Bank of America Corp DE now owns 505,238 shares of the company’s stock worth $15,561,000 after purchasing an additional 37,803 shares during the period. IFS Group LLC acquired a new position in Federated Hermes U.S. Strategic Dividend ETF in the 1st quarter worth $901,000. Gateway Wealth Partners LLC boosted its stake in shares of Federated Hermes U.S. Strategic Dividend ETF by 156.0% during the 1st quarter. Gateway Wealth Partners LLC now owns 28,596 shares of the company’s stock worth $881,000 after buying an additional 17,427 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Federated Hermes U.S. Strategic Dividend ETF during the 1st quarter worth about $108,000. Finally, Private Advisor Group LLC boosted its stake in shares of Federated Hermes U.S. Strategic Dividend ETF by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 216,263 shares of the company’s stock worth $6,661,000 after buying an additional 8,746 shares during the last quarter.

About Federated Hermes U.S. Strategic Dividend ETF

The Federated Hermes U.S. Strategic Dividend ETF (FDV) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund seeks income and long-term capital appreciation through an actively managed portfolio of high dividend-paying US stocks with the potential for dividend growth. FDV was launched on Nov 15, 2022 and is managed by Federated Hermes.