Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Significant Decrease in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 141,251 shares, a drop of 60.3% from the September 15th total of 355,748 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 199,138 shares, the short-interest ratio is presently 0.7 days.

Global X Variable Rate Preferred ETF Price Performance

NYSEARCA PFFV traded up $0.06 during mid-day trading on Tuesday, reaching $21.50. The stock had a trading volume of 57,556 shares, compared to its average volume of 79,259. Global X Variable Rate Preferred ETF has a 1 year low of $21.44 and a 1 year high of $23.11. The company has a fifty day moving average price of $21.88 and a 200 day moving average price of $22.05.

Institutional Trading of Global X Variable Rate Preferred ETF

A number of institutional investors and hedge funds have recently modified their holdings of PFFV. Janney Montgomery Scott LLC raised its stake in shares of Global X Variable Rate Preferred ETF by 84.4% in the first quarter. Janney Montgomery Scott LLC now owns 681,034 shares of the company’s stock worth $14,866,000 after purchasing an additional 311,788 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Global X Variable Rate Preferred ETF by 64.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 128,997 shares of the company’s stock valued at $2,866,000 after purchasing an additional 50,579 shares in the last quarter. Foguth Wealth Management LLC. purchased a new stake in shares of Global X Variable Rate Preferred ETF during the first quarter valued at $4,621,000. LFG Wealth Partners LLC purchased a new stake in shares of Global X Variable Rate Preferred ETF during the fourth quarter valued at $2,060,000. Finally, Bank of America Corp DE boosted its position in shares of Global X Variable Rate Preferred ETF by 4.7% during the first quarter. Bank of America Corp DE now owns 135,828 shares of the company’s stock valued at $2,965,000 after buying an additional 6,153 shares during the last quarter.

About Global X Variable Rate Preferred ETF

The Global X Variable Rate Preferred ETF (PFFV) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of variable rate US preferred securities, selected and weighted by market value. PFFV was launched on Jun 22, 2020 and is managed by Global X.