Principal Investment Grade Corporate ETF (BATS:IG) Stock Short Interest Jumps 90.4%

Principal Investment Grade Corporate ETF (BATS:IG) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 69,268 shares, an increase of 90.4% from the September 15th total of 36,379 shares. Based on an average daily volume of 67,957 shares, the short-interest ratio is presently 1.0 days. Currently, 0.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IG. Royal Bank of Canada increased its holdings in Principal Investment Grade Corporate ETF by 8.4% in the 1st quarter. Royal Bank of Canada now owns 76,048 shares of the company’s stock worth $1,570,000 after acquiring an additional 5,881 shares during the last quarter. Insight Wealth Partners LLC raised its stake in Principal Investment Grade Corporate ETF by 13.3% in the 2nd quarter. Insight Wealth Partners LLC now owns 256,849 shares of the company’s stock valued at $5,308,000 after acquiring an additional 30,221 shares during the period. BTG Pactual Asset Management US LLC bought a new stake in Principal Investment Grade Corporate ETF in the 2nd quarter valued at about $802,000. Western Wealth Management LLC bought a new stake in Principal Investment Grade Corporate ETF in the 1st quarter valued at about $2,768,000. Finally, Spartan Wealth Advisory Services LLC purchased a new stake in Principal Investment Grade Corporate ETF during the first quarter valued at about $10,511,000. Institutional investors own 70.98% of the company’s stock.

Principal Investment Grade Corporate ETF Price Performance

BATS:IG opened at $19.77 on Friday. The business has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $20.34. Principal Investment Grade Corporate ETF has a 1 year low of $19.35 and a 1 year high of $21.36. The company has a market capitalization of $197.70 million, a P/E ratio of 329.50 and a beta of 0.37.

Principal Investment Grade Corporate ETF Company Profile

The Principal Investment Grade Corporate Active ETF (IG) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund is an actively managed fund that provides current income by selecting investment-grade, USD-denominated bonds of any maturity. IG was launched on Apr 18, 2018 and is managed by Principal.