Short Interest in Principal Value ETF (NASDAQ:PY) Rises By 64.4%

Principal Value ETF (NASDAQ:PY) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 42,408 shares, a growth of 64.4% from the July 30th total of 25,800 shares. Based on an average daily trading volume, of 13,505 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Principal Value ETF

A number of hedge funds have recently modified their holdings of PY. Principal Financial Group Inc. increased its holdings in Principal Value ETF by 155.0% in the first 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 period. Integrity Wealth Partners LLC acquired a new position in Principal Value ETF during the 1st quarter worth about $308,000. Kestra Advisory Services LLC acquired a new position in Principal Value ETF during the 4th quarter worth about $555,000. Smartleaf Asset Management LLC grew its position in shares of Principal Value ETF by 2.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 20,794 shares of the company’s stock valued at $1,093,000 after buying an additional 473 shares during the last quarter. Finally, Principal Securities Inc. grew its position in shares of Principal Value ETF by 24.0% in the 4th quarter. Principal Securities Inc. now owns 1,157,632 shares of the company’s stock valued at $60,419,000 after buying an additional 224,296 shares during the last quarter.

Principal Value ETF Price Performance

Shares of NASDAQ PY opened at $57.68 on Wednesday. The company has a 50 day simple moving average of $56.27 and a 200 day simple moving average of $54.17. Principal Value ETF has a 1 year low of $50.08 and a 1 year high of $58.45. The firm has a market cap of $240.53 million, a PE ratio of 17.40 and a beta of 0.83.

Principal Value ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.263 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This is an increase from Principal Value ETF’s previous quarterly dividend of $0.22. This represents a $1.05 annualized dividend and a dividend yield of 1.8%.

Principal Value ETF Company Profile

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.