- The last market close price is at least $3.00, and
- The average of volume of the last 20 days is at least 50,000 shares.
Previously the liquidity requirement (as discussed in this post) uses the accumulated trading volume of the past 1 year, which may not be good for short term trading. It may happen that a stock was heavily traded 6 months ago (institutions were dumping it) but barely trades recently.
The tweak actually improve the annualized return quite a bit to 26.70% from 21.81%. Below is its performance chart.