Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Short Interest Up 65.7% in January

Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 30,511 shares, a growth of 65.7% from the January 15th total of 18,413 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 25,036 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 25,036 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Trading of Principal Investment Grade Corporate Active ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. grew its stake in Principal Investment Grade Corporate Active ETF by 33.7% in the 4th quarter. Principal Securities Inc. now owns 4,157,920 shares of the company’s stock valued at $86,859,000 after buying an additional 1,049,107 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Principal Investment Grade Corporate Active ETF by 23.3% during the third quarter. Envestnet Asset Management Inc. now owns 2,997,001 shares of the company’s stock worth $63,239,000 after acquiring an additional 566,045 shares during the period. Raymond James Financial Inc. grew its position in shares of Principal Investment Grade Corporate Active ETF by 10.4% in the third quarter. Raymond James Financial Inc. now owns 863,109 shares of the company’s stock valued at $18,212,000 after purchasing an additional 81,107 shares during the last quarter. Insight Wealth Partners LLC increased its stake in shares of Principal Investment Grade Corporate Active ETF by 6.4% during the second quarter. Insight Wealth Partners LLC now owns 184,094 shares of the company’s stock worth $3,831,000 after purchasing an additional 11,007 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Principal Investment Grade Corporate Active ETF by 626.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 90,137 shares of the company’s stock worth $1,883,000 after purchasing an additional 77,736 shares during the period. Institutional investors own 70.98% of the company’s stock.

Principal Investment Grade Corporate Active ETF Stock Performance

IG traded up $0.05 during trading hours on Friday, reaching $21.10. The company’s stock had a trading volume of 20,300 shares, compared to its average volume of 34,153. The company’s 50-day moving average is $20.93 and its 200-day moving average is $20.97. Principal Investment Grade Corporate Active ETF has a 52 week low of $19.75 and a 52 week high of $21.36. The firm has a market cap of $159.31 million, a PE ratio of 351.67 and a beta of 0.39.

Principal Investment Grade Corporate Active ETF Company Profile

The Principal Investment Grade Corporate Active ETF (IG) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund is an actively managed fund that provides current income by selecting investment-grade, USD-denominated bonds of any maturity. IG was launched on Apr 18, 2018 and is managed by Principal.