The T. Rowe Price Dividend Growth ETF (NYSEARCA: TDVG) experienced a notable increase in short interest in January 2023. According to data available as of January 30, the short interest surged to 67,533 shares, marking an increase of 28.9% from the previous total of 52,373 shares reported on January 15. With an average daily trading volume of 87,309 shares, the days-to-cover ratio now stands at 0.8 days, indicating a relatively low short-selling activity compared to the total shares outstanding.
During mid-day trading on Monday, shares of TDVG rose by 0.4%, reaching $46.65. A total of 54,419 shares exchanged hands, surpassing the average volume of 79,191 shares. The ETF currently boasts a market capitalization of $1.26 billion and maintains a price-to-earnings ratio of 24.89. Over the past year, TDVG has recorded a low of $35.39 and a high of $47.26, reflecting its performance amidst market fluctuations.
Institutional Investments Reflect Growing Interest
Several institutional investors have recently adjusted their holdings in T. Rowe Price Dividend Growth ETF, highlighting growing interest in the fund. Notably, Goldman Sachs Group Inc. increased its stake by 59.3% during the first quarter, acquiring an additional 4,894 shares to reach a total of 13,151 shares, valued at approximately $531,000.
Similarly, CWM LLC raised its position by an impressive 224.2% in the second quarter, now owning 9,386 shares valued at $398,000. Harbour Investments Inc. boosted its holdings by 28.4%, bringing its total to 13,938 shares valued at $591,000, while MB Levis & Associates LLC lifted its stake by 25.4% to 10,925 shares valued at $463,000.
Finally, Schaper Benz & Wise Investment Counsel Inc. increased its holdings by 8.8%, acquiring an additional 1,185 shares to reach a total of 14,610 shares valued at $619,000.
Overview of T. Rowe Price Dividend Growth ETF
The T. Rowe Price Dividend Growth ETF (TDVG) is designed to track the Russell 1000 Dividend Growth Index. Launched on August 4, 2020, the ETF currently manages assets totaling $298.89 million and holds 103 stocks. It operates as an actively managed, non-transparent fund, focusing on global large- and mid-cap companies recognized for their sustainable, above-average growth in earnings and dividends.
As interest in dividend growth strategies continues to rise among investors, T. Rowe Price Dividend Growth ETF remains a key player within this niche market, reflected in its increasing short interest and institutional support.
