Global X U.S. Preferred ETF (NYSEARCA:PFFD) Sees Significant Growth in Short Interest

Global X U.S. Preferred ETF (NYSEARCA:PFFD) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 701,175 shares, a growth of 349.3% from the December 31st total of 156,045 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 780,980 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 780,980 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Global X U.S. Preferred ETF

Institutional investors have recently bought and sold shares of the business. Orgel Wealth Management LLC increased its stake in shares of Global X U.S. Preferred ETF by 4.9% in the fourth quarter. Orgel Wealth Management LLC now owns 7,370,268 shares of the company’s stock worth $139,372,000 after acquiring an additional 343,311 shares during the period. Bank of America Corp DE grew its position in Global X U.S. Preferred ETF by 0.7% during the 3rd quarter. Bank of America Corp DE now owns 5,706,946 shares of the company’s stock worth $110,886,000 after purchasing an additional 41,798 shares during the period. New York Life Investment Management LLC raised its stake in shares of Global X U.S. Preferred ETF by 562.4% during the 2nd quarter. New York Life Investment Management LLC now owns 1,848,925 shares of the company’s stock valued at $34,815,000 after buying an additional 1,569,805 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Global X U.S. Preferred ETF by 14.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,642,627 shares of the company’s stock valued at $30,927,000 after buying an additional 209,405 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Global X U.S. Preferred ETF in the third quarter worth about $30,455,000.

Global X U.S. Preferred ETF Stock Down 0.1%

Shares of PFFD opened at $19.56 on Wednesday. The stock has a 50-day moving average of $19.12 and a two-hundred day moving average of $19.25. Global X U.S. Preferred ETF has a one year low of $17.81 and a one year high of $20.14.

About Global X U.S. Preferred ETF

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.