Short Interest in Principal Spectrum Tax-Advantaged Dividend Active ETF (NYSEARCA:PQDI) Drops By 66.5%

Principal Spectrum Tax-Advantaged Dividend Active ETF (NYSEARCA:PQDI) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 1,798 shares, a drop of 66.5% from the April 30th total of 5,368 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 4,384 shares, the days-to-cover ratio is currently 0.4 days.

Principal Spectrum Tax-Advantaged Dividend Active ETF Stock Performance

Principal Spectrum Tax-Advantaged Dividend Active ETF stock remained flat at $19.48 on Friday. The company’s stock had a trading volume of 5,495 shares, compared to its average volume of 5,778. The firm has a 50-day moving average of $19.40 and a two-hundred day moving average of $19.54. Principal Spectrum Tax-Advantaged Dividend Active ETF has a fifty-two week low of $18.97 and a fifty-two week high of $20.07.

Hedge Funds Weigh In On Principal Spectrum Tax-Advantaged Dividend Active ETF

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF in the 4th quarter worth about $614,000. Harbor Investment Advisory LLC raised its position in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 4.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 31,447 shares of the company’s stock worth $616,000 after purchasing an additional 1,447 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 186,734 shares of the company’s stock worth $3,668,000 after purchasing an additional 7,411 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 5.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 517,934 shares of the company’s stock worth $10,175,000 after purchasing an additional 28,495 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 42.5% in the 4th quarter. Principal Securities Inc. now owns 734,899 shares of the company’s stock worth $14,386,000 after purchasing an additional 219,061 shares during the last quarter.

About Principal Spectrum Tax-Advantaged Dividend Active ETF

The Principal Spectrum Tax-Advantaged Dividend Active ETF (PQDI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively selects dividend-paying securities that have favorable federal tax treatment, including preferred and capital securities, from global issuers. PQDI was launched on Jun 17, 2020 and is managed by Principal.