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

Principal Value ETF (NASDAQ:PY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 10,774 shares, a drop of 39.3% from the September 30th total of 17,750 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 26,486 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Principal Value ETF by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,470,675 shares of the company’s stock worth $79,271,000 after acquiring an additional 201,803 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Principal Value ETF by 155.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,973,436 shares of the company’s stock valued at $101,636,000 after purchasing an additional 1,199,677 shares during the last quarter. Finally, Integrity Wealth Partners LLC bought a new position in Principal Value ETF during the 1st quarter valued at about $308,000.

Principal Value ETF Stock Performance

NASDAQ PY opened at $58.51 on Friday. The company has a market cap of $243.99 million, a P/E ratio of 17.40 and a beta of 0.84. The business’s 50 day moving average price is $57.42 and its 200-day moving average price is $54.71. Principal Value ETF has a fifty-two week low of $50.08 and a fifty-two week high of $59.09.

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.