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

Absolute Select Value ETF (NYSEARCA:ABEQ) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,187 shares, a drop of 89.4% from the May 14th total of 20,711 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 12,557 shares, the days-to-cover ratio is presently 0.2 days.

Absolute Select Value ETF Stock Performance

NYSEARCA:ABEQ traded up $0.02 during trading hours on Wednesday, reaching $37.11. The company’s stock had a trading volume of 4,484 shares, compared to its average volume of 15,395. The firm has a market capitalization of $138.05 million, a price-to-earnings ratio of 18.77 and a beta of 0.45. The firm has a 50-day simple moving average of $37.56 and a 200-day simple moving average of $37.45. Absolute Select Value ETF has a 1 year low of $33.89 and a 1 year high of $40.08.

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.