Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Significant Growth in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 157,899 shares, an increase of 331.4% from the July 30th total of 36,600 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 135,139 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PFFV. Janney Montgomery Scott LLC lifted its holdings in Global X Variable Rate Preferred ETF by 84.4% in the first quarter. Janney Montgomery Scott LLC now owns 681,034 shares of the company’s stock worth $14,866,000 after acquiring an additional 311,788 shares during the last quarter. Foguth Wealth Management LLC. bought a new position in shares of Global X Variable Rate Preferred ETF during the first quarter valued at approximately $4,621,000. Benjamin Edwards Inc. bought a new position in shares of Global X Variable Rate Preferred ETF during the fourth quarter valued at approximately $3,092,000. LFG Wealth Partners LLC acquired a new stake in shares of Global X Variable Rate Preferred ETF during the 4th quarter worth approximately $2,060,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Global X Variable Rate Preferred ETF by 64.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 128,997 shares of the company’s stock worth $2,866,000 after purchasing an additional 50,579 shares during the period.

Global X Variable Rate Preferred ETF Stock Performance

Shares of PFFV stock traded up $0.02 during trading hours on Thursday, hitting $22.08. 86,245 shares of the company were exchanged, compared to its average volume of 65,965. Global X Variable Rate Preferred ETF has a one year low of $21.70 and a one year high of $23.38. The business’s 50-day simple moving average is $22.04 and its two-hundred day simple moving average is $22.18.

Global X Variable Rate Preferred ETF Company Profile

The Global X Variable Rate Preferred ETF (PFFV) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of variable rate US preferred securities, selected and weighted by market value. PFFV was launched on Jun 22, 2020 and is managed by Global X.