AB US High Dividend ETF (NYSEARCA:HIDV) Sees Significant Increase in Short Interest

AB US High Dividend ETF (NYSEARCA:HIDV) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 7,242 shares, an increase of 496.0% from the February 12th total of 1,215 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 12,960 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 12,960 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the company’s shares are sold short.

Hedge Funds Weigh In On AB US High Dividend ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in AB US High Dividend ETF by 37.6% during the 3rd quarter. Alliancebernstein L.P. now owns 981,306 shares of the company’s stock valued at $77,467,000 after purchasing an additional 268,389 shares in the last quarter. LPL Financial LLC raised its stake in AB US High Dividend ETF by 3.0% during the fourth quarter. LPL Financial LLC now owns 447,702 shares of the company’s stock worth $36,112,000 after acquiring an additional 13,201 shares during the period. Wagner Wealth Management LLC boosted its stake in AB US High Dividend ETF by 2.5% in the fourth quarter. Wagner Wealth Management LLC now owns 94,379 shares of the company’s stock valued at $7,613,000 after acquiring an additional 2,269 shares during the period. Envestnet Asset Management Inc. raised its position in shares of AB US High Dividend ETF by 29.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,117 shares of the company’s stock worth $2,614,000 after purchasing an additional 7,501 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in AB US High Dividend ETF by 74.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 9,403 shares of the company’s stock worth $758,000 after buying an additional 3,998 shares during the period.

AB US High Dividend ETF Price Performance

AB US High Dividend ETF stock traded up $0.11 during midday trading on Wednesday, hitting $80.74. 251 shares of the company were exchanged, compared to its average volume of 17,424. The company’s fifty day moving average price is $82.27 and its 200-day moving average price is $80.30. AB US High Dividend ETF has a fifty-two week low of $59.88 and a fifty-two week high of $84.25. The company has a market cap of $145.33 million, a PE ratio of 17.91 and a beta of 0.97.

About AB US High Dividend ETF

The AB US High Dividend ETF (HIDV) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed fund of high dividend-paying companies. Selection is based on a proprietary systemic approach of large- and mid-cap US stocks. HIDV was launched on Mar 22, 2023 and is managed by AllianceBernstein.