Principal Quality ETF (NASDAQ:PSET) Sees Large Drop in Short Interest

Principal Quality ETF (NASDAQ:PSET) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 29 shares, a drop of 56.1% from the June 30th total of 66 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 922 shares, the short-interest ratio is presently 0.0 days.

Principal Quality ETF Stock Performance

Shares of NASDAQ:PSET opened at $77.29 on Thursday. The company has a 50-day simple moving average of $75.85 and a 200-day simple moving average of $74.52. Principal Quality ETF has a one year low of $67.62 and a one year high of $78.25. The stock has a market capitalization of $27.82 million, a price-to-earnings ratio of 29.66 and a beta of 1.00.

Principal Quality ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, July 1st were given a $0.1526 dividend. This is a boost from Principal Quality ETF’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, July 1st. This represents a $0.61 annualized dividend and a yield of 0.8%.

Institutional Trading of Principal Quality ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of Principal Quality ETF by 100.3% in the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. Assetmark Inc. raised its stake in shares of Principal Quality ETF by 26.9% during the fourth quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock worth $111,000 after purchasing an additional 309 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Principal Quality ETF during the fourth quarter worth approximately $65,000. Smartleaf Asset Management LLC raised its stake in shares of Principal Quality ETF by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,095 shares of the company’s stock worth $392,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Principal Quality ETF by 13.3% during the second quarter. Raymond James Financial Inc. now owns 8,708 shares of the company’s stock worth $641,000 after purchasing an additional 1,023 shares during the period.

About Principal Quality ETF

The Principal Quality ETF (PSET) 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 are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.