Principal Value ETF (NASDAQ:PY) Short Interest Update

Principal Value ETF (NASDAQ:PY) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 20,200 shares, a growth of 49.6% from the April 30th total of 13,500 shares. Based on an average daily trading volume, of 15,600 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.3% of the shares of the stock are sold short.

Principal Value ETF Price Performance

PY traded down $0.04 during trading on Tuesday, hitting $47.98. 1,138 shares of the stock traded hands, compared to its average volume of 18,362. The business has a 50 day moving average price of $46.77 and a 200 day moving average price of $49.16. Principal Value ETF has a twelve month low of $41.96 and a twelve month high of $52.63. The company has a market cap of $300.83 million, a price-to-earnings ratio of 17.44 and a beta of 1.15.

Principal Value ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st were given a $0.1781 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, April 1st.

Institutional Investors Weigh In On Principal Value ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Principal Value ETF by 1,379.8% in the 1st quarter. Principal Financial Group Inc. now owns 4,875,592 shares of the company’s stock valued at $238,950,000 after acquiring an additional 4,546,106 shares during the period. Principal Securities Inc. lifted its holdings in Principal Value ETF by 3.6% during the 4th quarter. Principal Securities Inc. now owns 876,530 shares of the company’s stock worth $43,402,000 after buying an additional 30,500 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Principal Value ETF by 2.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 825,212 shares of the company’s stock valued at $40,861,000 after buying an additional 20,086 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in shares of Principal Value ETF by 315.2% in the first quarter. Capital Investment Advisory Services LLC now owns 25,076 shares of the company’s stock valued at $1,230,000 after buying an additional 19,036 shares during the period. Finally, LPL Financial LLC raised its position in shares of Principal Value ETF by 33.8% during the first quarter. LPL Financial LLC now owns 31,051 shares of the company’s stock worth $1,524,000 after acquiring an additional 7,838 shares during the last quarter.

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.