Essential 40 Stock ETF (NASDAQ:ESN) Short Interest Up 179.3% in June

Essential 40 Stock ETF (NASDAQ:ESN) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 220,396 shares, an increase of 179.3% from the May 31st total of 78,920 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 95,336 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Essential 40 Stock ETF stock. Legacy Financial Group LLC increased its holdings in Essential 40 Stock ETF (NASDAQ:ESN) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,891,621 shares of the company’s stock after buying an additional 59,758 shares during the period. Essential 40 Stock ETF comprises approximately 4.3% of Legacy Financial Group LLC’s holdings, making the stock its 6th biggest position. Legacy Financial Group LLC owned 16.10% of Essential 40 Stock ETF worth $34,382,000 as of its most recent SEC filing.

Essential 40 Stock ETF Trading Up 0.9%

Shares of NASDAQ:ESN traded up $0.18 on Friday, reaching $19.68. 24,415 shares of the company were exchanged, compared to its average volume of 63,312. The company has a 50-day moving average of $19.25 and a 200-day moving average of $18.29. The firm has a market cap of $261.15 million, a price-to-earnings ratio of 19.18 and a beta of 0.72. Essential 40 Stock ETF has a 1-year low of $15.78 and a 1-year high of $20.02.

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.