Short Interest in Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) Decreases By 41.3%

Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 945 shares, a drop of 41.3% from the July 30th total of 1,609 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 2,897 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Pacer Trendpilot Fund of Funds ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRND. Wells Fargo & Company MN bought a new stake in Pacer Trendpilot Fund of Funds ETF in the fourth quarter worth $84,000. Kestra Advisory Services LLC bought a new position in Pacer Trendpilot Fund of Funds ETF during the fourth quarter valued at $183,000. Ausdal Financial Partners Inc. bought a new position in Pacer Trendpilot Fund of Funds ETF during the third quarter valued at $275,000. Royal Bank of Canada raised its stake in shares of Pacer Trendpilot Fund of Funds ETF by 301.4% in the first quarter. Royal Bank of Canada now owns 9,735 shares of the company’s stock valued at $313,000 after acquiring an additional 7,310 shares during the period. Finally, Susquehanna International Group LLP raised its stake in shares of Pacer Trendpilot Fund of Funds ETF by 85.9% in the third quarter. Susquehanna International Group LLP now owns 15,454 shares of the company’s stock valued at $519,000 after acquiring an additional 7,140 shares during the period.

Pacer Trendpilot Fund of Funds ETF Stock Down 0.3%

TRND stock traded down $0.13 during mid-day trading on Monday, hitting $37.12. The company had a trading volume of 4,144 shares, compared to its average volume of 3,507. The company has a market capitalization of $63.10 million, a price-to-earnings ratio of 15.57 and a beta of 0.52. Pacer Trendpilot Fund of Funds ETF has a 12-month low of $30.59 and a 12-month high of $39.09. The company has a 50-day moving average price of $36.90 and a 200 day moving average price of $35.71.

About Pacer Trendpilot Fund of Funds ETF

The Pacer Trendpilot Fund of Funds ETF (TRND) is an exchange-traded fund that is based on the Pacer Trendpilot Fund of Funds index. TRND, a fund of funds, provides exposure to large- and mid-cap companies in developed markets including the US. Its underlying funds use momentum to toggle to cash at 50% or 100%. TRND was launched on May 3, 2019 and is managed by Pacer.