Principal Quality ETF (NASDAQ:PSET) Sees Significant Increase in Short Interest

Principal Quality ETF (NASDAQ:PSET) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 716 shares, an increase of 1,491.1% from the July 30th total of 45 shares. Based on an average daily trading volume, of 2,512 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Principal Quality ETF

A number of institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in Principal Quality ETF by 100.3% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the company’s stock valued at $46,000 after acquiring an additional 300 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Principal Quality ETF in the 4th quarter valued at approximately $65,000. Abacus Wealth Partners LLC acquired a new stake in shares of Principal Quality ETF in the 4th quarter valued at approximately $212,000. Smartleaf Asset Management LLC boosted its stake in shares of Principal Quality ETF by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,095 shares of the company’s stock valued at $392,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Principal Quality ETF by 21.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,231 shares of the company’s stock valued at $434,000 after purchasing an additional 1,090 shares during the last quarter.

Principal Quality ETF Stock Down 0.1%

Shares of NASDAQ:PSET traded down $0.07 during midday trading on Tuesday, hitting $80.15. The stock had a trading volume of 333 shares, compared to its average volume of 2,585. The company’s 50-day moving average price is $77.71 and its 200-day moving average price is $75.07. Principal Quality ETF has a fifty-two week low of $67.62 and a fifty-two week high of $81.85. The company has a market capitalization of $28.85 million, a P/E ratio of 29.66 and a beta of 1.00.

Principal Quality ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were issued a $0.1526 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Principal Quality ETF’s previous quarterly dividend of $0.14.

About Principal Quality ETF

The Principal Quality ETF (PSET) 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 are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.