The OneAscent Small Cap Core ETF (NYSEARCA:OASC) has reported a dramatic decline in short interest, dropping to a mere 569 shares as of December 15, 2023. This figure represents a staggering decrease of 97.1% from the total of 19,596 shares recorded on November 30, 2023. Currently, only approximately 0.1% of the ETF’s stock is short sold.
This reduction in short interest indicates a potential shift in investor sentiment towards the ETF, which is designed to track the S&P Small Cap 600 index. With an average daily trading volume of 13,194 shares, the days-to-cover ratio stands at effectively 0.0 days, suggesting that short sellers are no longer actively betting against the fund.
Institutional Investors Adjust Holdings
Several institutional investors have made adjustments to their positions in the OneAscent Small Cap Core ETF during recent quarters. Notably, Strategic Blueprint LLC increased its stake by 18.1% in the third quarter, acquiring an additional 1,835 shares to bring its total holdings to 11,983 shares, valued at approximately $342,000.
Meanwhile, OneAscent Investment Solutions LLC significantly boosted its investment by 41.0%, now owning 14,167 shares worth around $404,000 after purchasing 4,122 shares. Additionally, OneAscent Family Office LLC increased its position by 27.5% during the second quarter, raising its holdings to 22,494 shares valued at $585,000.
In a remarkable move, IFP Advisors Inc raised its stake by an astonishing 655.4% in the second quarter, now holding 6,308 shares valued at about $164,000 following the acquisition of 5,473 shares. Furthermore, Plan A Wealth LLC entered the market with a new investment valued at approximately $209,000 during the third quarter.
Current Market Performance
As of midday trading on Thursday, OASC shares climbed 0.2%, reaching $30.22. During the trading session, 6,026 shares changed hands, in contrast to the ETF’s average volume of 12,165 shares. The OneAscent Small Cap Core ETF has experienced a range of $21.44 to $30.47 over the past year, currently holding a market capitalization of $28.10 million.
The ETF’s price-to-earnings ratio stands at 17.24, with a beta of 1.31, indicating a higher volatility compared to the market. Its fifty-day moving average price is $28.97, while the two-hundred-day moving average price is $27.82.
The OneAscent Small Cap Core ETF, launched on June 13, 2024, employs a proprietary, value-based screening process to invest in approximately 200 small-cap companies across the United States. As investor interest continues to evolve, the recent decline in short interest suggests a renewed confidence in the fund’s potential for growth.
