Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Large Drop in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 141,251 shares, a drop of 60.3% from the September 15th total of 355,748 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 199,138 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Global X Variable Rate Preferred ETF by 3.2% during the second quarter. Envestnet Asset Management Inc. now owns 99,521 shares of the company’s stock worth $2,192,000 after purchasing an additional 3,095 shares in the last quarter. Corient Private Wealth LP purchased a new stake in Global X Variable Rate Preferred ETF during the second quarter worth about $222,000. Bedel Financial Consulting Inc. increased its stake in Global X Variable Rate Preferred ETF by 2.1% during the second quarter. Bedel Financial Consulting Inc. now owns 169,993 shares of the company’s stock worth $3,745,000 after purchasing an additional 3,466 shares during the period. Integral Investment Advisors Inc. increased its stake in Global X Variable Rate Preferred ETF by 7.2% during the second quarter. Integral Investment Advisors Inc. now owns 116,315 shares of the company’s stock worth $2,562,000 after purchasing an additional 7,783 shares during the period. Finally, LFG Wealth Partners LLC lifted its position in shares of Global X Variable Rate Preferred ETF by 9.4% during the first quarter. LFG Wealth Partners LLC now owns 101,461 shares of the company’s stock worth $2,215,000 after purchasing an additional 8,738 shares in the last quarter.

Global X Variable Rate Preferred ETF Stock Down 0.7%

PFFV stock traded down $0.16 during midday trading on Wednesday, hitting $21.35. 110,294 shares of the stock traded hands, compared to its average volume of 79,546. The stock’s fifty day simple moving average is $21.87 and its 200-day simple moving average is $22.04. Global X Variable Rate Preferred ETF has a 1-year low of $21.31 and a 1-year high of $23.11.

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.