Short Interest in Principal Value ETF (NASDAQ:PY) Increases By 64.4%

Principal Value ETF (NASDAQ:PY) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 42,408 shares, a growth of 64.4% from the July 30th total of 25,800 shares. Based on an average daily trading volume, of 13,505 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.0% of the shares of the company are short sold.

Principal Value ETF Trading Down 0.4%

PY stock traded down $0.24 during trading on Tuesday, hitting $57.65. The company had a trading volume of 8,261 shares, compared to its average volume of 20,669. The firm has a market capitalization of $240.40 million, a price-to-earnings ratio of 17.40 and a beta of 0.83. The business has a 50 day moving average of $56.20 and a 200 day moving average of $54.14. Principal Value ETF has a fifty-two week low of $50.08 and a fifty-two week high of $58.45.

Principal Value ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, July 1st were issued a $0.263 dividend. This represents a $1.05 annualized dividend and a dividend yield of 1.8%. This is a boost from Principal Value ETF’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, July 1st.

Hedge Funds Weigh In On Principal Value ETF

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Principal Value ETF by 30,404.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,876 shares of the company’s stock worth $2,133,000 after acquiring an additional 40,742 shares during the period. Principal Securities Inc. lifted its holdings in Principal Value ETF by 24.0% in the 4th quarter. Principal Securities Inc. now owns 1,157,632 shares of the company’s stock valued at $60,419,000 after acquiring an additional 224,296 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Principal Value ETF by 155.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,973,436 shares of the company’s stock valued at $101,636,000 after purchasing an additional 1,199,677 shares in the last quarter. Integrity Wealth Partners LLC acquired a new position in shares of Principal Value ETF in the 1st quarter worth approximately $308,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Principal Value ETF in the 2nd quarter worth approximately $117,000.

Principal Value ETF Company Profile

The Principal Value ETF (PY) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that exhibit higher degrees of shareholder yield. PY was launched on Mar 21, 2016 and is managed by Principal.