Short Interest in Pacer Trendpilot US Bond ETF (NYSEARCA:PTBD) Declines By 38.1%

Pacer Trendpilot US Bond ETF (NYSEARCA:PTBD) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 31,563 shares, a drop of 38.1% from the May 14th total of 50,990 shares. Based on an average trading volume of 12,950 shares, the short-interest ratio is currently 2.4 days. Currently, 0.6% of the shares of the company are sold short.

Pacer Trendpilot US Bond ETF Stock Performance

NYSEARCA PTBD traded down $0.02 during trading hours on Wednesday, reaching $19.24. The company’s stock had a trading volume of 1,711 shares, compared to its average volume of 28,122. The business has a 50-day simple moving average of $19.18 and a 200 day simple moving average of $19.29. Pacer Trendpilot US Bond ETF has a 52 week low of $18.69 and a 52 week high of $20.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in Pacer Trendpilot US Bond ETF by 6.1% in the first quarter. NewEdge Advisors LLC now owns 160,037 shares of the company’s stock worth $3,038,000 after buying an additional 9,194 shares during the last quarter. Independent Financial Group LLC acquired a new position in Pacer Trendpilot US Bond ETF in the 1st quarter worth approximately $267,000. Kestra Advisory Services LLC boosted its stake in Pacer Trendpilot US Bond ETF by 9.7% in the 1st quarter. Kestra Advisory Services LLC now owns 11,545 shares of the company’s stock worth $219,000 after purchasing an additional 1,024 shares during the period. Ascentis Independent Advisors acquired a new position in Pacer Trendpilot US Bond ETF in the 1st quarter worth approximately $68,000. Finally, Private Advisor Group LLC boosted its stake in Pacer Trendpilot US Bond ETF by 4.7% in the 1st quarter. Private Advisor Group LLC now owns 48,324 shares of the company’s stock worth $917,000 after purchasing an additional 2,164 shares during the period.

About Pacer Trendpilot US Bond ETF

The Pacer Trendpilot US Bond ETF (PTBD) is an exchange-traded fund that is based on the Pacer Trendpilot US Bond index. The fund tracks an index that uses a momentum-driven proprietary strategy that toggles between U.S. High Yield Corporate Bonds and 7-10 Year Treasury Bonds. PTBD was launched on Oct 22, 2019 and is managed by Pacer.