VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Short Interest Down 47.8% in July

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 122,280 shares, a drop of 47.8% from the June 30th total of 234,045 shares. Based on an average trading volume of 711,686 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On VanEck Preferred Securities ex Financials ETF

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in VanEck Preferred Securities ex Financials ETF by 15.2% in the 1st 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 in the last quarter. LPL Financial LLC boosted its holdings 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 in the last quarter. Raymond James Financial Inc. boosted its stake in shares of VanEck Preferred Securities ex Financials ETF by 3.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,763,760 shares of the company’s stock worth $31,342,000 after acquiring an additional 59,762 shares in the last quarter. Tanager Wealth Management LLP boosted its position in VanEck Preferred Securities ex Financials ETF by 9.6% during the first quarter. Tanager Wealth Management LLP now owns 1,587,632 shares of the company’s stock worth $27,847,000 after purchasing an additional 138,544 shares during the period. Finally, MML Investors Services LLC grew its stake in VanEck Preferred Securities ex Financials ETF by 6.7% in the 4th quarter. MML Investors Services LLC now owns 1,471,878 shares of the company’s stock valued at $25,993,000 after buying an additional 92,611 shares during the last quarter.

VanEck Preferred Securities ex Financials ETF Stock Performance

Shares of PFXF stock traded down $0.09 during midday trading on Wednesday, reaching $17.44. 513,720 shares of the company were exchanged, compared to its average volume of 774,352. The company’s 50 day moving average price is $18.11 and its two-hundred day moving average price is $18.17. The company has a market cap of $2.39 billion, a P/E ratio of 0.59 and a beta of 0.62. VanEck Preferred Securities ex Financials ETF has a 12 month low of $17.03 and a 12 month high of $19.07.

About VanEck Preferred Securities ex Financials ETF

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.