Principal Quality ETF (NASDAQ:PSET) Sees Large Decline in Short Interest

Principal Quality ETF (NASDAQ:PSET) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 29 shares, a decline of 56.1% from the June 30th total of 66 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 922 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PSET. Farther Finance Advisors LLC raised its stake in shares of Principal Quality ETF by 100.3% during the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the company’s stock valued at $46,000 after acquiring an additional 300 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Principal Quality ETF during the 4th quarter worth about $65,000. Assetmark Inc. lifted its holdings in Principal Quality ETF by 26.9% during the 4th quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock worth $111,000 after buying an additional 309 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of Principal Quality ETF in the 4th quarter valued at about $212,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Principal Quality ETF by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,095 shares of the company’s stock valued at $392,000 after buying an additional 1,019 shares during the last quarter.

Principal Quality ETF Trading Up 1.4%

NASDAQ PSET traded up $1.05 on Tuesday, hitting $77.95. 527 shares of the company’s stock were exchanged, compared to its average volume of 2,670. The stock has a 50-day moving average of $75.74 and a 200-day moving average of $74.52. Principal Quality ETF has a 52 week low of $67.62 and a 52 week high of $78.20. The stock has a market cap of $28.06 million, a price-to-earnings ratio of 29.66 and a beta of 1.00.

Principal Quality ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were issued a $0.1526 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, July 1st. This is a boost from Principal Quality ETF’s previous quarterly dividend of $0.14.

About Principal Quality ETF

The Principal Quality ETF (PSET) 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 are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.