The Astoria US Quality Growth Kings ETF (NASDAQ: GQQQ) experienced a significant increase in short interest during January 2024, with a remarkable growth of 122.0%. As of January 15, the total short interest reached 14,108 shares, up from 6,355 shares recorded on December 31, 2023. This surge translates to a short-interest ratio of 1.1 days, based on an average daily trading volume of 12,764 shares. Currently, short sales account for 0.4% of the ETF’s total shares.
Institutional Investment Activity
In addition to the rising short interest, institutional investment in the Astoria US Quality Growth Kings ETF remains active. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), Vermillion & White Wealth Management Group LLC increased its holdings in the ETF by 0.5% during the second quarter. The firm now owns 622,913 shares after acquiring an additional 3,346 shares. This investment represents approximately 11.0% of Vermillion & White’s portfolio, making it the firm’s second largest position. At the end of the most recent quarter, the value of Vermillion & White’s holdings in the ETF was estimated at $16,862,000, accounting for 20.49% of the ETF’s total shares.
Current Trading Performance
On January 19, 2024, the Astoria US Quality Growth Kings ETF saw a decline, trading down $0.41 to reach $30.77. The trading volume for the day was 14,170 shares, slightly below its average volume of 14,353 shares. The ETF’s fifty-day moving average price stands at $30.32, while its two-hundred-day moving average is $29.36. Over the past year, the ETF has experienced a low of $20.25 and a high of $31.34.
With a market capitalization of $107.70 million, the Astoria US Quality Growth Kings ETF maintains a price-to-earnings ratio of 27.86 and a beta of 1.21.
The Astoria US Quality Growth Kings ETF, launched on October 1, 2024, is an actively managed exchange-traded fund that primarily invests in a total market equity strategy, focusing on 75 to 100 U.S. companies that demonstrate quality and growth characteristics. The fund employs a quantitative approach to stock selection, aiming to identify companies with strong fundamentals.
As the investment landscape continues to evolve, market participants will closely monitor the performance and growing interest surrounding the Astoria US Quality Growth Kings ETF.
