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

Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) saw a large growth in short interest in 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 short-interest ratio is presently 4.8 days. Currently, 2.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADVE. Geneos Wealth Management Inc. acquired a new position in Matthews Asia Dividend Active ETF during the 2nd quarter valued at about $61,000. Jane Street Group LLC raised its holdings in shares of 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 worth $684,000 after buying an additional 7,991 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Matthews Asia Dividend Active ETF in the fourth quarter worth $216,000. Finally, Parallel Advisors LLC purchased a new position in shares of Matthews Asia Dividend Active ETF in the first quarter worth $27,000.

Matthews Asia Dividend Active ETF Stock Performance

NYSEARCA:ADVE traded up $0.68 during mid-day trading on Monday, hitting $47.15. 157 shares of the company’s stock traded hands, compared to its average volume of 1,818. The company has a fifty day moving average of $45.42 and a 200 day moving average of $42.82. Matthews Asia Dividend Active ETF has a twelve month low of $34.66 and a twelve month high of $47.82. The company has a market capitalization of $7.07 million, a P/E ratio of 14.51 and a beta of 0.62.

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.