Dan IVES Wedbush AI Revolution ETF (NYSEARCA:IVES) Sees Significant Decrease in Short Interest

Dan IVES Wedbush AI Revolution ETF (NYSEARCA:IVES) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 301,179 shares, a drop of 43.8% from the July 30th total of 535,644 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 322,677 shares, the days-to-cover ratio is presently 0.9 days.

Dan IVES Wedbush AI Revolution ETF Trading Down 0.9%

Shares of NYSEARCA IVES traded down $0.34 during mid-day trading on Friday, reaching $39.41. The company had a trading volume of 492,480 shares, compared to its average volume of 571,785. The stock has a market cap of $1.09 billion, a PE ratio of 27.36 and a beta of 2.12. The company has a 50-day moving average price of $37.56 and a two-hundred day moving average price of $34.60. Dan IVES Wedbush AI Revolution ETF has a 1-year low of $26.92 and a 1-year high of $41.93.

Hedge Funds Weigh In On Dan IVES Wedbush AI Revolution ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans acquired a new stake in shares of Dan IVES Wedbush AI Revolution ETF during the fourth quarter valued at approximately $78,128,000. HighTower Advisors LLC lifted its position in shares of Dan IVES Wedbush AI Revolution ETF by 157.3% in the 4th quarter. HighTower Advisors LLC now owns 543,805 shares of the company’s stock valued at $17,190,000 after acquiring an additional 332,426 shares in the last quarter. Concentric Capital Strategies LP boosted its stake in Dan IVES Wedbush AI Revolution ETF by 109.2% in the 3rd quarter. Concentric Capital Strategies LP now owns 327,825 shares of the company’s stock worth $10,530,000 after purchasing an additional 171,110 shares during the period. Royal Bank of Canada boosted its stake in Dan IVES Wedbush AI Revolution ETF by 1,277.2% in the 4th quarter. Royal Bank of Canada now owns 152,599 shares of the company’s stock worth $4,823,000 after purchasing an additional 141,519 shares during the period. Finally, Longitude Cayman Ltd. purchased a new position in Dan IVES Wedbush AI Revolution ETF during the 4th quarter worth approximately $4,204,000.

Dan IVES Wedbush AI Revolution ETF Company Profile

The Wedbush ETFMG Global Cloud Technology ETF (IVES) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market cap-weighted index of global equities related to cloud technology companies. IVES was launched on Mar 8, 2016 and is managed by ETF Managers Group.