Principal Investment Grade Corporate ETF (BATS:IG) Sees Significant Drop in Short Interest

Principal Investment Grade Corporate ETF (BATS:IG) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 1,563 shares, a decrease of 96.3% from the October 15th total of 42,572 shares. Based on an average daily volume of 65,190 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Principal Investment Grade Corporate ETF Trading Down 0.2%

IG traded down $0.03 during midday trading on Tuesday, reaching $19.82. The company’s stock had a trading volume of 51,943 shares, compared to its average volume of 43,689. The stock has a market cap of $205.14 million, a P/E ratio of 330.33 and a beta of 0.39. The company has a fifty day simple moving average of $19.81 and a 200 day simple moving average of $20.41. Principal Investment Grade Corporate ETF has a twelve month low of $19.35 and a twelve month high of $21.20.

Institutional Investors Weigh In On Principal Investment Grade Corporate ETF

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its position in Principal Investment Grade Corporate ETF by 33.1% during the second quarter. Envestnet Asset Management Inc. now owns 6,322,167 shares of the company’s stock worth $130,648,000 after acquiring an additional 1,573,300 shares during the period. Insight Wealth Partners LLC raised its stake in Principal Investment Grade Corporate ETF by 13.3% during the 2nd quarter. Insight Wealth Partners LLC now owns 256,849 shares of the company’s stock valued at $5,308,000 after purchasing an additional 30,221 shares during the last quarter. Spartan Wealth Advisory Services LLC acquired a new position in Principal Investment Grade Corporate ETF during the 1st quarter valued at $10,511,000. BTG Pactual Asset Management US LLC acquired a new position in Principal Investment Grade Corporate ETF during the 2nd quarter valued at $802,000. Finally, Western Wealth Management LLC bought a new stake in Principal Investment Grade Corporate ETF in the 1st quarter valued at $2,768,000. 70.98% of the stock is owned by institutional investors.

Principal Investment Grade Corporate 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.