Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) Short Interest Up 108.0% in May

Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 3,267 shares, a growth of 108.0% from the May 14th total of 1,571 shares. Based on an average daily trading volume, of 677 shares, the days-to-cover ratio is presently 4.8 days. Currently, 2.2% of the company’s shares are sold short.

Matthews Asia Dividend Active ETF Trading Up 1.5%

Shares of NYSEARCA:ADVE traded up $0.68 on Monday, reaching $47.15. 158 shares of the company traded hands, compared to its average volume of 1,818. The business’s 50-day simple moving average is $45.42 and its 200 day simple moving average is $42.82. Matthews Asia Dividend Active ETF has a 52 week low of $34.66 and a 52 week high of $47.82. The stock has a market capitalization of $7.07 million, a P/E ratio of 14.51 and a beta of 0.62.

Institutional Trading of Matthews Asia Dividend Active ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new stake in Matthews Asia Dividend Active ETF in the first quarter valued at approximately $27,000. Geneos Wealth Management Inc. bought a new stake in Matthews Asia Dividend Active ETF in the second quarter valued at approximately $61,000. Kestra Advisory Services LLC bought a new stake in Matthews Asia Dividend Active ETF in the fourth quarter valued at approximately $216,000. Finally, Jane Street Group LLC lifted its position in Matthews Asia Dividend Active ETF by 84.3% in the fourth quarter. Jane Street Group LLC now owns 17,470 shares of the company’s stock valued at $684,000 after purchasing an additional 7,991 shares during the last quarter.

Matthews Asia Dividend Active ETF Company Profile

The Matthews Asia Dividend Active ETF (ADVE) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed portfolio of dividend-paying companies located in Asia. The fund seeks to provide total return with a level of current income higher than average Asian equities. ADVE was launched on Sep 22, 2023 and is issued by Matthews.