Which of the following observations provide evidence supporting the semi-strong form of the efficient market hypothesis?

Group of answer choices

Mutual fund managers on average make superior returns than ordinary investors.

Low P/E (price to earnings ratio) stocks tend to have positive abnormal returns.

None of the observations.

CEOs tend to make superior returns from trading stocks of their own companies.

You can make superior profits by buying (or selling) stocks after the announcement of an abnormal rise in dividends.