Short Interest in VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Drops By 52.5%

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 234,045 shares, a decrease of 52.5% from the June 15th total of 492,423 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 914,796 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

A number of institutional investors and hedge funds have recently modified their holdings of PFXF. Bank of America Corp DE grew its holdings in shares of VanEck Preferred Securities ex Financials ETF by 15.2% in the first quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock worth $93,860,000 after acquiring an additional 705,474 shares during the period. LPL Financial LLC boosted its position in VanEck Preferred Securities ex Financials ETF by 8.5% in the fourth quarter. LPL Financial LLC now owns 2,961,370 shares of the company’s stock worth $52,298,000 after purchasing an additional 232,745 shares during the last quarter. Raymond James Financial Inc. boosted its position in VanEck Preferred Securities ex Financials ETF by 3.5% in the third quarter. Raymond James Financial Inc. now owns 1,763,760 shares of the company’s stock worth $31,342,000 after purchasing an additional 59,762 shares during the last quarter. Tanager Wealth Management LLP grew its stake in shares of VanEck Preferred Securities ex Financials ETF by 9.6% during the 1st quarter. Tanager Wealth Management LLP now owns 1,587,632 shares of the company’s stock valued at $27,847,000 after purchasing an additional 138,544 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of VanEck Preferred Securities ex Financials ETF by 6.7% during the 4th quarter. MML Investors Services LLC now owns 1,471,878 shares of the company’s stock valued at $25,993,000 after purchasing an additional 92,611 shares during the period.

VanEck Preferred Securities ex Financials ETF Trading Up 0.2%

PFXF stock traded up $0.04 on Wednesday, hitting $17.78. The company had a trading volume of 833,713 shares, compared to its average volume of 776,514. VanEck Preferred Securities ex Financials ETF has a 12-month low of $17.03 and a 12-month high of $19.07. The stock’s 50-day simple moving average is $18.32 and its 200 day simple moving average is $18.19. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 0.59 and a beta of 0.62.

VanEck Preferred Securities ex Financials ETF Company Profile

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.