Short Interest in Principal Value ETF (NASDAQ:PY) Drops By 56.8%
by Amy Steele · The Cerbat GemPrincipal Value ETF (NASDAQ:PY – Get Free Report) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 7,719 shares, a drop of 56.8% from the December 15th total of 17,883 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,458 shares, the short-interest ratio is currently 0.8 days. Based on an average daily trading volume, of 9,458 shares, the short-interest ratio is currently 0.8 days. Approximately 0.3% of the shares of the stock are short sold.
Institutional Trading of Principal Value ETF
Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Principal Value ETF by 40.8% in the third quarter. Envestnet Asset Management Inc. now owns 791,413 shares of the company’s stock worth $41,539,000 after acquiring an additional 229,159 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Principal Value ETF by 22.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 26,640 shares of the company’s stock worth $1,313,000 after purchasing an additional 4,876 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Principal Value ETF in the 3rd quarter worth about $803,000. Jane Street Group LLC bought a new position in shares of Principal Value ETF during the 2nd quarter valued at about $297,000. Finally, NFP Retirement Inc. increased its position in shares of Principal Value ETF by 6.0% during the 2nd quarter. NFP Retirement Inc. now owns 5,684 shares of the company’s stock valued at $282,000 after purchasing an additional 324 shares during the last quarter.
Principal Value ETF Price Performance
Shares of NASDAQ:PY traded up $0.15 on Wednesday, hitting $52.80. The company’s stock had a trading volume of 7,574 shares, compared to its average volume of 9,242. The company has a market capitalization of $127.25 million, a PE ratio of 17.40 and a beta of 0.96. The company has a 50-day simple moving average of $52.18 and a 200 day simple moving average of $51.58. Principal Value ETF has a 1 year low of $42.11 and a 1 year high of $53.45.
About Principal Value ETF
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.