Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) Shares Shorted: Short Interest Down 73.7% in October

Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 755 shares, a decrease of 73.7% from the September 30th total of 2,871 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 260 shares, the days-to-cover ratio is currently 2.9 days.

Matthews Asia Dividend Active ETF Stock Performance

NYSEARCA:ADVE traded up $0.18 during trading hours on Wednesday, reaching $45.11. The company’s stock had a trading volume of 26 shares, compared to its average volume of 1,776. The firm has a market capitalization of $6.77 million, a price-to-earnings ratio of 14.51 and a beta of 0.63. The firm has a 50-day simple moving average of $46.12 and a 200-day simple moving average of $44.88. Matthews Asia Dividend Active ETF has a 1 year low of $38.00 and a 1 year high of $47.82.

Hedge Funds Weigh In On Matthews Asia Dividend Active ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC lifted its holdings in Matthews Asia Dividend Active ETF by 102.1% in the first quarter. Kestra Advisory Services LLC now owns 11,127 shares of the company’s stock worth $464,000 after buying an additional 5,620 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Matthews Asia Dividend Active ETF during the 2nd quarter worth approximately $39,000. Finally, Parallel Advisors LLC purchased a new position in shares of Matthews Asia Dividend Active ETF during the 1st quarter worth approximately $27,000.

Matthews Asia Dividend Active ETF Company Profile

The Matthews Asia Dividend Active ETF (ADVE) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed portfolio of dividend-paying companies located in Asia. The fund seeks to provide total return with a level of current income higher than average Asian equities. ADVE was launched on Sep 22, 2023 and is issued by Matthews.