AB US High Dividend ETF (NYSEARCA:HIDV) Sees Significant Drop in Short Interest

AB US High Dividend ETF (NYSEARCA:HIDV) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 1,911 shares, a decrease of 59.6% from the May 14th total of 4,733 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 6,448 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On AB US High Dividend ETF

A number of institutional investors have recently modified their holdings of HIDV. Royal Bank of Canada bought a new position in shares of AB US High Dividend ETF during the fourth quarter valued at $50,000. PNC Financial Services Group Inc. purchased a new stake in AB US High Dividend ETF during the 3rd quarter valued at about $64,000. Osaic Holdings Inc. increased its stake in AB US High Dividend ETF by 34.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,408 shares of the company’s stock valued at $323,000 after purchasing an additional 1,127 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in AB US High Dividend ETF in the third quarter worth about $419,000. Finally, Kingsview Wealth Management LLC raised its holdings in AB US High Dividend ETF by 74.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 9,403 shares of the company’s stock worth $758,000 after buying an additional 3,998 shares during the last quarter.

AB US High Dividend ETF Stock Performance

HIDV stock opened at $88.34 on Friday. The firm has a market capitalization of $185.51 million, a price-to-earnings ratio of 17.91 and a beta of 0.96. The firm has a 50 day moving average price of $85.56 and a 200-day moving average price of $82.70. AB US High Dividend ETF has a 52-week low of $70.84 and a 52-week high of $89.90.

AB US High Dividend ETF Company Profile

The AB US High Dividend ETF (HIDV) is an exchange-traded fund that mostly invests in high dividend yield equity. The fund is an actively managed fund of high dividend-paying companies. Selection is based on a proprietary systemic approach of large- and mid-cap US stocks. HIDV was launched on Mar 22, 2023 and is managed by AllianceBernstein.