Essential 40 Stock ETF (NASDAQ:ESN) Sees Significant Growth in Short Interest

Essential 40 Stock ETF (NASDAQ:ESN) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 47,747 shares, an increase of 166.6% from the July 30th total of 17,909 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 44,282 shares, the days-to-cover ratio is presently 1.1 days.

Essential 40 Stock ETF Price Performance

Shares of NASDAQ ESN traded down $0.01 during mid-day trading on Friday, hitting $20.64. The company had a trading volume of 25,615 shares, compared to its average volume of 64,233. The business’s 50-day simple moving average is $20.14 and its 200-day simple moving average is $19.12. Essential 40 Stock ETF has a 12 month low of $16.44 and a 12 month high of $20.82. The firm has a market cap of $330.65 million, a P/E ratio of 19.18 and a beta of 0.71.

Institutional Investors Weigh In On Essential 40 Stock ETF

A hedge fund recently raised its stake in Essential 40 Stock ETF stock. Janney Montgomery Scott LLC grew its position in Essential 40 Stock ETF (NASDAQ:ESN) by 2.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,706 shares of the company’s stock after purchasing an additional 1,063 shares during the period. Janney Montgomery Scott LLC owned about 0.30% of Essential 40 Stock ETF worth $678,000 as of its most recent filing with the SEC.

Essential 40 Stock ETF Company Profile

The Essential 40 Stock ETF (ESN) is an exchange-traded fund that is based on the Essential 40 Stock index. The fund attempts to track an index of 40 US blue-chip stocks that are deemed essential to the US economy by the index provider. Holdings are equally weighted in the index ESN was launched on Jun 11, 2014 and is issued by KKM Financial.