Principal Real Estate Active Opportunities ETF (NYSEARCA:BYRE) Sees Large Growth in Short Interest

Principal Real Estate Active Opportunities ETF (NYSEARCA:BYRE) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 3,424 shares, an increase of 69.8% from the April 30th total of 2,016 shares. Based on an average trading volume of 2,887 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BYRE. Commonwealth Equity Services LLC bought a new stake in Principal Real Estate Active Opportunities ETF during the 4th quarter valued at $209,000. Virtu Financial LLC purchased a new stake in Principal Real Estate Active Opportunities ETF during the 4th quarter valued at $261,000. Envestnet Asset Management Inc. grew its holdings in Principal Real Estate Active Opportunities ETF by 41.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 444,054 shares of the company’s stock worth $11,226,000 after acquiring an additional 129,727 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in Principal Real Estate Active Opportunities ETF by 26.7% in the 4th quarter. Principal Securities Inc. now owns 573,727 shares of the company’s stock worth $14,033,000 after acquiring an additional 120,985 shares during the last quarter.

Principal Real Estate Active Opportunities ETF Price Performance

Principal Real Estate Active Opportunities ETF stock traded up $0.14 during trading hours on Wednesday, reaching $26.97. The company had a trading volume of 752 shares, compared to its average volume of 3,757. Principal Real Estate Active Opportunities ETF has a 12-month low of $24.24 and a 12-month high of $27.71. The company has a 50-day moving average price of $26.50 and a 200 day moving average price of $25.71. The firm has a market cap of $25.35 million, a price-to-earnings ratio of 35.23 and a beta of 0.89.

Principal Real Estate Active Opportunities ETF Company Profile

The Principal Real Estate Active Opportunities ETF (BYRE) is an exchange-traded fund that mostly invests in real estate equity. The fund is an actively managed, non-transparent fund that seeks total return by centering on US-listed companies in the real estate industry, selected using a bottom-up fundamental approach. The fund utilizes the Fidelity non-transparent model. BYRE was launched on May 18, 2022 and is managed by Principal.