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

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 157,899 shares, a growth of 331.4% from the July 30th total of 36,600 shares. Based on an average trading volume of 135,139 shares, the short-interest ratio is currently 1.2 days. Approximately 1.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PFFV. SouthState Bank Corp acquired a new stake in Global X Variable Rate Preferred ETF during the 1st quarter worth $44,000. Kestra Advisory Services LLC acquired a new stake in shares of Global X Variable Rate Preferred ETF during the fourth quarter worth about $80,000. Royal Bank of Canada purchased a new stake in shares of Global X Variable Rate Preferred ETF in the 4th quarter valued at about $157,000. Fifth Third Bancorp purchased a new stake in shares of Global X Variable Rate Preferred ETF in the 1st quarter valued at about $214,000. Finally, Sei Investments Co. acquired a new stake in shares of Global X Variable Rate Preferred ETF in the 1st quarter valued at about $225,000.

Global X Variable Rate Preferred ETF Stock Performance

PFFV traded down $0.04 on Wednesday, reaching $22.05. The company’s stock had a trading volume of 32,675 shares, compared to its average volume of 65,635. The stock has a 50 day moving average of $22.04 and a two-hundred day moving average of $22.18. Global X Variable Rate Preferred ETF has a fifty-two week low of $21.70 and a fifty-two week high of $23.38.

About Global X Variable Rate Preferred ETF

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.