Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE:HFND) Sees Significant Decrease in Short Interest

Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE:HFND) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 23,554 shares, a decline of 53.5% from the August 15th total of 50,627 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 6,431 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Investors Weigh In On Unlimited HFND Multi-Strategy Return Tracker ETF

A hedge fund recently bought a new stake in Unlimited HFND Multi-Strategy Return Tracker ETF stock. Compass Financial Management LLC bought a new position in Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE:HFND) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,104 shares of the company’s stock, valued at approximately $101,000. Compass Financial Management LLC owned about 0.28% of Unlimited HFND Multi-Strategy Return Tracker ETF as of its most recent filing with the Securities & Exchange Commission.

Unlimited HFND Multi-Strategy Return Tracker ETF Stock Performance

Shares of HFND stock traded up $0.02 on Wednesday, hitting $24.00. 762 shares of the company’s stock traded hands, compared to its average volume of 11,061. The stock has a market capitalization of $47.98 million, a price-to-earnings ratio of 17.86 and a beta of 0.48. The company’s fifty day simple moving average is $24.41 and its 200 day simple moving average is $24.13. Unlimited HFND Multi-Strategy Return Tracker ETF has a one year low of $22.33 and a one year high of $24.81.

About Unlimited HFND Multi-Strategy Return Tracker ETF

The Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund is an actively managed fund that seeks to outperform the hedge fund industry by taking long and short positions in broad-based ETFs and futures contracts. The fund attempts to build a portfolio with similar return characteristics to the hedge fund industry gross of fees returns. HFND was launched on Oct 10, 2022 and is managed by Tidal ETFs.