Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) Sees Large Drop in Short Interest

Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 588 shares, a decline of 53.0% from the August 31st total of 1,252 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 2,974 shares, the days-to-cover ratio is presently 0.2 days.

Pacer Trendpilot Fund of Funds ETF Price Performance

Pacer Trendpilot Fund of Funds ETF stock traded down $0.13 during mid-day trading on Wednesday, hitting $36.69. 11,125 shares of the company’s stock traded hands, compared to its average volume of 3,662. The firm has a 50 day simple moving average of $37.01 and a two-hundred day simple moving average of $36.06. Pacer Trendpilot Fund of Funds ETF has a fifty-two week low of $30.59 and a fifty-two week high of $39.09. The stock has a market cap of $62.37 million, a price-to-earnings ratio of 15.57 and a beta of 0.52.

Institutional Trading of Pacer Trendpilot Fund of Funds ETF

A number of hedge funds have recently modified their holdings of TRND. Retirement Planning Group LLC acquired a new stake in Pacer Trendpilot Fund of Funds ETF during the first quarter worth approximately $2,206,000. Gaddis Premier Wealth Advisors LLC bought a new position in Pacer Trendpilot Fund of Funds ETF in the fourth quarter valued at approximately $654,000. Royal Bank of Canada increased its stake in Pacer Trendpilot Fund of Funds ETF by 1,244.1% in the first quarter. Royal Bank of Canada now owns 17,877 shares of the company’s stock valued at $591,000 after acquiring an additional 16,547 shares during the last quarter. Cetera Investment Advisers raised its position in Pacer Trendpilot Fund of Funds ETF by 13.8% during the first quarter. Cetera Investment Advisers now owns 46,911 shares of the company’s stock valued at $1,550,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Pacer Trendpilot Fund of Funds ETF by 0.3% during the first quarter. Bank of America Corp DE now owns 188,403 shares of the company’s stock valued at $6,225,000 after purchasing an additional 513 shares in the last quarter.

Pacer Trendpilot Fund of Funds ETF Company Profile

The Pacer Trendpilot Fund of Funds ETF (TRND) is an exchange-traded fund that is based on the Pacer Trendpilot Fund of Funds index. TRND, a fund of funds, provides exposure to large- and mid-cap companies in developed markets including the US. Its underlying funds use momentum to toggle to cash at 50% or 100%. TRND was launched on May 3, 2019 and is managed by Pacer.