Short Interest in Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Declines By 27.6%

Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 21,800 shares, a drop of 27.6% from the September 30th total of 30,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 27,700 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 27,700 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Trading of Principal Investment Grade Corporate Active ETF

Several hedge funds and other institutional investors have recently bought and sold shares of IG. Goldman Sachs Group Inc. bought a new stake in shares of Principal Investment Grade Corporate Active ETF in the first quarter valued at about $828,000. Insight Wealth Partners LLC lifted its position in Principal Investment Grade Corporate Active ETF by 6.4% in the second quarter. Insight Wealth Partners LLC now owns 184,094 shares of the company’s stock worth $3,831,000 after purchasing an additional 11,007 shares during the period. Raymond James Financial Inc. boosted its stake in Principal Investment Grade Corporate Active ETF by 15.2% during the first quarter. Raymond James Financial Inc. now owns 775,636 shares of the company’s stock worth $16,032,000 after buying an additional 102,055 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Principal Investment Grade Corporate Active ETF by 1.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,092,248 shares of the company’s stock valued at $43,247,000 after buying an additional 36,892 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Principal Investment Grade Corporate Active ETF by 3.8% during the 1st quarter. Royal Bank of Canada now owns 57,374 shares of the company’s stock valued at $1,186,000 after acquiring an additional 2,089 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Principal Investment Grade Corporate Active ETF Stock Up 0.2%

Shares of IG stock opened at $20.92 on Wednesday. Principal Investment Grade Corporate Active ETF has a 12 month low of $19.75 and a 12 month high of $21.36. The firm has a market cap of $131.80 million, a PE ratio of 348.67 and a beta of 0.39. The stock has a 50 day moving average of $21.07 and a 200-day moving average of $20.73.

Principal Investment Grade Corporate Active 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.