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

Principal Value ETF (NASDAQ:PY) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 17,242 shares, an increase of 110.5% from the February 26th total of 8,190 shares. Based on an average trading volume of 45,368 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.5% of the shares of the stock are short sold.

Principal Value ETF Trading Up 0.5%

Shares of NASDAQ:PY traded up $0.27 on Thursday, reaching $51.69. 3,668 shares of the company were exchanged, compared to its average volume of 33,464. The company has a 50-day moving average of $52.64 and a 200-day moving average of $52.24. The firm has a market cap of $182.47 million, a price-to-earnings ratio of 17.40 and a beta of 0.96. Principal Value ETF has a 1-year low of $42.11 and a 1-year high of $53.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PY. Envestnet Asset Management Inc. grew its holdings in shares of Principal Value ETF by 40.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 791,413 shares of the company’s stock worth $41,539,000 after acquiring an additional 229,159 shares during the period. Principal Securities Inc. raised its holdings in Principal Value ETF by 24.0% during the fourth quarter. Principal Securities Inc. now owns 1,157,632 shares of the company’s stock worth $60,419,000 after purchasing an additional 224,296 shares during the last quarter. Jane Street Group LLC purchased a new stake in Principal Value ETF during the second quarter worth $297,000. Kestra Advisory Services LLC purchased a new stake in Principal Value ETF during the fourth quarter worth $555,000. Finally, Citadel Advisors LLC acquired a new stake in Principal Value ETF in the third quarter valued at $803,000.

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.