Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Sees Significant Decrease in Short Interest

Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 21,800 shares, a decline of 27.6% from the September 30th total of 30,100 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 27,700 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 27,700 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company’s stock are sold short.

Principal Investment Grade Corporate Active ETF Stock Up 0.2%

Shares of IG stock traded up $0.05 during trading on Tuesday, reaching $20.92. The company’s stock had a trading volume of 14,700 shares, compared to its average volume of 22,380. Principal Investment Grade Corporate Active ETF has a one year low of $19.75 and a one year high of $21.36. The company has a market cap of $131.80 million, a price-to-earnings ratio of 348.67 and a beta of 0.39. The business has a fifty day moving average price of $21.06 and a 200-day moving average price of $20.72.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Principal Investment Grade Corporate Active ETF by 16.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,430,956 shares of the company’s stock valued at $50,586,000 after acquiring an additional 338,708 shares during the last quarter. Raymond James Financial Inc. raised its position in Principal Investment Grade Corporate Active ETF by 0.8% during the 2nd quarter. Raymond James Financial Inc. now owns 782,002 shares of the company’s stock valued at $16,273,000 after purchasing an additional 6,366 shares during the last quarter. Insight Wealth Partners LLC lifted its stake in Principal Investment Grade Corporate Active ETF by 6.4% in the second quarter. Insight Wealth Partners LLC now owns 184,094 shares of the company’s stock worth $3,831,000 after acquiring an additional 11,007 shares during the period. Royal Bank of Canada lifted its position in shares of Principal Investment Grade Corporate Active ETF by 3.8% in the 1st quarter. Royal Bank of Canada now owns 57,374 shares of the company’s stock worth $1,186,000 after purchasing an additional 2,089 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Principal Investment Grade Corporate Active ETF during the 1st quarter valued at about $828,000. Institutional investors own 70.98% of the company’s stock.

Principal Investment Grade Corporate Active ETF Company Profile

The Principal Investment Grade Corporate Active ETF (IG) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund is an actively managed fund that provides current income by selecting investment-grade, USD-denominated bonds of any maturity. IG was launched on Apr 18, 2018 and is managed by Principal.