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

Dan IVES Wedbush AI Revolution ETF (NYSEARCA:IVES) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 301,179 shares, a decline of 43.8% from the July 30th total of 535,644 shares. Based on an average daily trading volume, of 322,677 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.1% of the company’s shares are short sold.

Dan IVES Wedbush AI Revolution ETF Price Performance

IVES stock traded up $0.24 during trading on Monday, reaching $39.65. The company had a trading volume of 235,405 shares, compared to its average volume of 569,758. Dan IVES Wedbush AI Revolution ETF has a 52 week low of $26.92 and a 52 week high of $41.93. The company has a market cap of $1.09 billion, a P/E ratio of 27.36 and a beta of 2.12. The business has a 50 day moving average of $37.60 and a 200 day moving average of $34.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new position in shares of Dan IVES Wedbush AI Revolution ETF in the 2nd quarter worth approximately $359,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Dan IVES Wedbush AI Revolution ETF during the second quarter valued at approximately $208,000. Castle Rock Wealth Management LLC grew its stake in Dan IVES Wedbush AI Revolution ETF by 7.7% in the second quarter. Castle Rock Wealth Management LLC now owns 65,575 shares of the company’s stock worth $2,486,000 after purchasing an additional 4,669 shares during the period. Avior Wealth Management LLC purchased a new stake in Dan IVES Wedbush AI Revolution ETF in the second quarter worth $4,044,000. Finally, Versant Capital Management Inc bought a new position in Dan IVES Wedbush AI Revolution ETF in the second quarter worth $39,000.

About Dan IVES Wedbush AI Revolution ETF

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.