Principal Value ETF (NASDAQ:PY) Sees Large Growth in Short Interest

Principal Value ETF (NASDAQ:PY) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 10,300 shares, an increase of 243.3% from the December 15th total of 3,000 shares. Based on an average daily trading volume, of 5,800 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On Principal Value ETF

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Principal Value ETF by 7.4% during the third quarter. Principal Financial Group Inc. now owns 308,684 shares of the company’s stock worth $15,463,000 after purchasing an additional 21,166 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Principal Value ETF by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 784,656 shares of the company’s stock valued at $36,071,000 after buying an additional 128,901 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Principal Value ETF by 2.6% in the 3rd quarter. Principal Securities Inc. now owns 846,030 shares of the company’s stock worth $42,379,000 after buying an additional 21,608 shares during the period.

Principal Value ETF Price Performance

NASDAQ PY opened at $49.31 on Tuesday. The company has a fifty day moving average price of $50.79 and a 200-day moving average price of $49.15. The firm has a market cap of $80.38 million, a price-to-earnings ratio of 19.65 and a beta of 1.15. Principal Value ETF has a 1 year low of $41.96 and a 1 year high of $52.63.

Principal Value ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were paid a $0.00 dividend. The ex-dividend date of this dividend was Tuesday, December 31st.

About Principal Value ETF

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.