Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) Sees Significant Decline in Short Interest

Matthews Asia Dividend Active ETF (NYSEARCA:ADVE) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,120 shares, a drop of 65.7% from the May 31st total of 3,267 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 540 shares, the short-interest ratio is currently 2.1 days.

Institutional Trading of Matthews Asia Dividend Active ETF

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new stake in shares of Matthews Asia Dividend Active ETF in the first quarter worth approximately $27,000. Kestra Advisory Services LLC lifted its holdings in Matthews Asia Dividend Active ETF by 102.1% in the 1st quarter. Kestra Advisory Services LLC now owns 11,127 shares of the company’s stock valued at $464,000 after purchasing an additional 5,620 shares in the last quarter. Jane Street Group LLC boosted its stake in Matthews Asia Dividend Active ETF by 84.3% during the 4th quarter. Jane Street Group LLC now owns 17,470 shares of the company’s stock worth $684,000 after purchasing an additional 7,991 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Matthews Asia Dividend Active ETF during the 2nd quarter worth $61,000.

Matthews Asia Dividend Active ETF Stock Up 0.8%

Shares of NYSEARCA:ADVE traded up $0.35 during trading on Tuesday, hitting $45.96. 374 shares of the stock traded hands, compared to its average volume of 1,735. The company has a fifty day moving average price of $46.06 and a two-hundred day moving average price of $43.37. Matthews Asia Dividend Active ETF has a 52-week low of $35.49 and a 52-week high of $47.82. The company has a market cap of $6.89 million, a price-to-earnings ratio of 14.51 and a beta of 0.62.

About Matthews Asia Dividend Active ETF

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.