Short Interest in Essential 40 Stock ETF (NASDAQ:ESN) Declines By 76.7%

Essential 40 Stock ETF (NASDAQ:ESN) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 37,422 shares, a drop of 76.7% from the June 30th total of 160,278 shares. Based on an average daily trading volume, of 55,546 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are short sold.

Essential 40 Stock ETF Price Performance

Shares of NASDAQ:ESN opened at $19.86 on Friday. The business’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $18.66. The firm has a market capitalization of $302.47 million, a price-to-earnings ratio of 19.18 and a beta of 0.71. Essential 40 Stock ETF has a 12 month low of $15.78 and a 12 month high of $20.21.

Hedge Funds Weigh In On Essential 40 Stock ETF

An institutional investor recently raised its stake in Essential 40 Stock ETF stock. Janney Montgomery Scott LLC boosted its position in shares of Essential 40 Stock ETF (NASDAQ:ESN) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,706 shares of the company’s stock after purchasing an additional 1,063 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.30% of Essential 40 Stock ETF worth $678,000 at the end of the most recent reporting period.

Essential 40 Stock ETF Company Profile

The Essential 40 Stock ETF (ESN) is an exchange-traded fund that is based on the Essential 40 Stock index. The fund attempts to track an index of 40 US blue-chip stocks that are deemed essential to the US economy by the index provider. Holdings are equally weighted in the index ESN was launched on Jun 11, 2014 and is issued by KKM Financial.