Parametric Hedged Equity ETF (NYSEARCA:PHEQ) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailyParametric Hedged Equity ETF (NYSEARCA:PHEQ – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,037 shares, a growth of 63.6% from the February 26th total of 3,690 shares. Based on an average trading volume of 31,962 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.
Hedge Funds Weigh In On Parametric Hedged Equity ETF
Several hedge funds and other institutional investors have recently modified their holdings of PHEQ. Farther Finance Advisors LLC bought a new stake in shares of Parametric Hedged Equity ETF in the fourth quarter worth $43,000. Wayfinding Financial LLC lifted its holdings in 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 during the period. Finally, von Borstel & Associates Inc. purchased a new position in Parametric Hedged Equity ETF in the third quarter worth about $4,356,000.
Parametric Hedged Equity ETF Stock Performance
Shares of PHEQ traded down $0.27 during mid-day trading on Friday, hitting $31.47. 29,122 shares of the company traded hands, compared to its average volume of 25,139. The stock has a market cap of $132.17 million, a price-to-earnings ratio of 25.95 and a beta of 0.53. The stock has a 50-day moving average price of $32.43 and a two-hundred day moving average price of $32.37. Parametric Hedged Equity ETF has a 1 year low of $26.19 and a 1 year high of $33.03.
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.