Short Interest in OneAscent Large Cap Core ETF Climbs 86.9%

Short interest in the OneAscent Large Cap Core ETF (NYSEARCA:OALC) saw a significant increase of 86.9% in December. As of December 15, 2023, the total short interest reached 20,150 shares, up from 10,784 shares on November 30, 2023. This rise indicates heightened bearish sentiment among investors regarding the fund’s future performance.

The current short sale percentage stands at 0.4% of the total outstanding shares. With an average daily trading volume of 32,574 shares, the days-to-cover ratio is approximately 0.6 days. This figure suggests that it would take less than a day for traders to cover their short positions based on recent trading activity.

Institutional Investment Activity

Recent activity among institutional investors has further shaped the landscape for OneAscent. During the third quarter, several hedge funds increased their stakes in the ETF. For instance, Values First Advisors Inc. invested approximately $139,000 in OALC, while Equitable Holdings Inc. acquired a stake valued at $247,000.

Additionally, Plan A Wealth LLC purchased shares worth $282,000, and Security Financial Services INC. added a new position valued at $341,000. The firm Envestnet Asset Management Inc. also made a notable investment in the second quarter amounting to $417,000. These movements reflect growing institutional interest in the ETF.

Recent Price Performance

On Friday, OALC experienced a modest increase, trading up by $0.03 to reach $36.11. During the session, 11,929 shares changed hands, compared to an average volume of 25,450 shares. The ETF currently has a market capitalization of $181.63 million, a price-to-earnings (P/E) ratio of 25.77, and a beta of 0.93, indicating a relatively stable performance in comparison to the broader market.

Historically, OALC has experienced a twelve-month low of $25.05 and a high of $36.82. The fund’s moving averages show a 50-day average of $35.32 and a 200-day average of $34.11, signaling potential trends for investors to monitor.

The OneAscent Large Cap Core ETF, launched on November 16, 2021, operates as an actively managed portfolio focused on large-cap U.S. companies. The fund emphasizes a value-based investment philosophy and aims for capital appreciation.

Investors and analysts alike will continue to watch OALC closely as these developments unfold.