ActivePassive U.S. Equity ETF (NYSEARCA:APUE) Stock Price Down 0.7% – Here’s What Happened

ActivePassive U.S. Equity ETF (NYSEARCA:APUE) dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $41.66 and last traded at $41.67. Approximately 58,484 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 127,134 shares. The stock had previously closed at $41.98.

ActivePassive U.S. Equity ETF Trading Down 0.7%

The firm’s 50-day moving average is $41.59 and its two-hundred day moving average is $39.98. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 23.42 and a beta of 1.02.

Hedge Funds Weigh In On ActivePassive U.S. Equity ETF

Hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. lifted its position in shares of ActivePassive U.S. Equity ETF by 40.9% in the second quarter. Wedbush Securities Inc. now owns 82,562 shares of the company’s stock valued at $3,105,000 after acquiring an additional 23,952 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ActivePassive U.S. Equity ETF during the third quarter worth approximately $154,000. Finally, NewEdge Advisors LLC acquired a new position in ActivePassive U.S. Equity ETF in the 1st quarter valued at $58,000.

About ActivePassive U.S. Equity ETF

The ActivePassive U.S. Equity ETF (APUE) is an exchange-traded fund that is based on the CRSP US Large Cap index. The fund blends an active and passive management approach to build its portfolio. The fund aims to optimize costs, tracking and potentially produce higher returns by shifting exposure between active and passive investments in the broad US equity market APUE was launched on May 3, 2023 and is managed by Envestnet.