Parametric Hedged Equity ETF (NYSEARCA:PHEQ) Sees Significant Decline in Short Interest

Parametric Hedged Equity ETF (NYSEARCA:PHEQ) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,690 shares, a drop of 32.3% from the February 12th total of 5,448 shares. Based on an average daily trading volume, of 13,239 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 13,239 shares, the days-to-cover ratio is presently 0.3 days.

Parametric Hedged Equity ETF Price Performance

Shares of NYSEARCA:PHEQ traded down $0.10 during mid-day trading on Friday, reaching $32.00. 10,210 shares of the company traded hands, compared to its average volume of 26,405. The company’s 50 day moving average price is $32.61 and its 200-day moving average price is $32.34. The firm has a market cap of $134.40 million, a PE ratio of 25.95 and a beta of 0.53. Parametric Hedged Equity ETF has a 52 week low of $26.19 and a 52 week high of $33.03.

Institutional Trading of Parametric Hedged Equity ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in shares of Parametric Hedged Equity ETF during the 3rd quarter valued at $4,356,000. Wayfinding Financial LLC lifted its position in shares of Parametric Hedged Equity ETF by 0.6% in the fourth quarter. Wayfinding Financial LLC now owns 134,303 shares of the company’s stock valued at $4,374,000 after acquiring an additional 766 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new position in shares of Parametric Hedged Equity ETF in the fourth quarter worth about $43,000.

About Parametric Hedged Equity ETF

The Parametric Hedged Equity ETF (PHEQ) is an exchange-traded fund that mostly invests in large cap equity. The fund invests in individual US large-cap stocks while utilizing a laddered options strategy to mitigate losses. The option strategy caps the potential upside participation. PHEQ was launched on Oct 16, 2023 and is issued by Parametric.