VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Stock Short Interest Declines 53.0%

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 160,713 shares, a drop of 53.0% from the September 30th total of 341,607 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 903,991 shares, the short-interest ratio is presently 0.2 days.

VanEck Preferred Securities ex Financials ETF Stock Down 1.2%

PFXF stock traded down $0.21 during midday trading on Friday, reaching $16.66. The stock had a trading volume of 781,025 shares, compared to its average volume of 769,091. The business has a fifty day simple moving average of $17.56 and a two-hundred day simple moving average of $18.00. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 0.59 and a beta of 0.64. VanEck Preferred Securities ex Financials ETF has a twelve month low of $16.57 and a twelve month high of $19.07.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP bought a new position in VanEck Preferred Securities ex Financials ETF during the second quarter worth about $3,688,000. Royal Bank of Canada grew its position in shares of VanEck Preferred Securities ex Financials ETF by 47.5% during the 1st quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock worth $8,491,000 after buying an additional 155,882 shares during the period. Tassel Capital Management Inc. acquired a new position in shares of VanEck Preferred Securities ex Financials ETF during the 2nd quarter worth about $1,207,000. Independent Financial Group LLC bought a new stake in shares of VanEck Preferred Securities ex Financials ETF in the 1st quarter valued at about $1,936,000. Finally, Bank of America Corp DE increased its stake in shares of VanEck Preferred Securities ex Financials ETF by 15.2% in the 1st quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock valued at $93,860,000 after acquiring an additional 705,474 shares during the last quarter.

About VanEck Preferred Securities ex Financials ETF

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.