Principal Value ETF (NASDAQ:PY) Short Interest Up 243.3% in December

Principal Value ETF (NASDAQ:PY) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 10,300 shares, an increase of 243.3% from the December 15th total of 3,000 shares. Based on an average daily volume of 5,800 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Investors Weigh In On Principal Value ETF

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position in shares of Principal Value ETF by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 784,656 shares of the company’s stock valued at $36,071,000 after acquiring an additional 128,901 shares during the period. Principal Securities Inc. grew its stake in Principal Value ETF by 2.6% during the third quarter. Principal Securities Inc. now owns 846,030 shares of the company’s stock worth $42,379,000 after buying an additional 21,608 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Principal Value ETF by 7.4% in the 3rd quarter. Principal Financial Group Inc. now owns 308,684 shares of the company’s stock valued at $15,463,000 after buying an additional 21,166 shares during the period.

Principal Value ETF Trading Up 1.1 %

Principal Value ETF stock opened at $49.31 on Tuesday. The company has a fifty day simple moving average of $50.79 and a 200 day simple moving average of $49.15. The company has a market cap of $80.38 million, a P/E ratio of 19.65 and a beta of 1.15. Principal Value ETF has a 1-year low of $41.96 and a 1-year high of $52.63.

Principal Value ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were paid a $0.00 dividend. The ex-dividend date was Tuesday, December 31st.

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.