PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (NYSEARCA:CORP) Sees Significant Increase in Short Interest

PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (NYSEARCA:CORP) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 16,867 shares, an increase of 1,655.2% from the August 31st total of 961 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 66,009 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors boosted its stake in PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund by 21.0% during the 1st quarter. Arkadios Wealth Advisors now owns 3,153 shares of the company’s stock valued at $305,000 after purchasing an additional 547 shares during the last quarter. RMG Wealth Management LLC purchased a new position in shares of PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund in the first quarter worth $77,000. Bank of New York Mellon Corp raised its stake in shares of PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund by 38.9% in the first quarter. Bank of New York Mellon Corp now owns 11,411 shares of the company’s stock worth $1,105,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Ruggiero Investments Inc. bought a new position in shares of PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund during the fourth quarter valued at $212,000.

PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund Trading Down 0.5%

Shares of NYSEARCA CORP traded down $0.49 during midday trading on Thursday, hitting $92.53. The stock had a trading volume of 353,698 shares, compared to its average volume of 104,121. The business’s 50 day moving average is $94.68 and its 200-day moving average is $95.99. PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund has a 52 week low of $92.49 and a 52 week high of $99.63.

About PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund

The PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund (CORP) is an exchange-traded fund that is based on the ICE BofA US Corporate index. The fund tracks a market-value-weighted index of USD-denominated investment-grade corporate bonds. CORP was launched on Sep 20, 2010 and is managed by PIMCO.