Principal Value ETF (NASDAQ:PY) Sees Significant Growth in Short Interest

Principal Value ETF (NASDAQ:PY) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 17,242 shares, a growth of 110.5% from the February 26th total of 8,190 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 45,368 shares, the days-to-cover ratio is currently 0.4 days.

Principal Value ETF Stock Up 0.5%

Shares of NASDAQ PY traded up $0.27 during midday trading on Thursday, hitting $51.69. The stock had a trading volume of 3,668 shares, compared to its average volume of 33,464. Principal Value ETF has a 1-year low of $42.11 and a 1-year high of $53.96. The company has a market capitalization of $182.47 million, a price-to-earnings ratio of 17.40 and a beta of 0.96. The company has a fifty day moving average price of $52.64 and a 200 day moving average price of $52.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PY. Raymond James Financial Inc. purchased a new stake in Principal Value ETF during the second quarter worth approximately $117,000. Jane Street Group LLC purchased a new position in shares of Principal Value ETF in the 2nd quarter valued at $297,000. Smartleaf Asset Management LLC raised its stake in shares of Principal Value ETF by 22.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 26,640 shares of the company’s stock valued at $1,313,000 after acquiring an additional 4,876 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Principal Value ETF by 40.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 791,413 shares of the company’s stock valued at $41,539,000 after acquiring an additional 229,159 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Principal Value ETF during the 3rd quarter valued at $803,000.

About Principal Value ETF

The Principal Value ETF (PY) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that exhibit higher degrees of shareholder yield. PY was launched on Mar 21, 2016 and is managed by Principal.