Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Large Increase in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 355,748 shares, an increase of 357.4% from the August 31st total of 77,768 shares. Based on an average daily trading volume, of 123,861 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.4% of the company’s stock are short sold.

Global X Variable Rate Preferred ETF Trading Down 0.3%

NYSEARCA:PFFV traded down $0.06 during trading hours on Friday, reaching $21.77. 22,043 shares of the stock were exchanged, compared to its average volume of 70,579. Global X Variable Rate Preferred ETF has a twelve month low of $21.70 and a twelve month high of $23.29. The firm has a 50 day moving average of $21.97 and a 200 day moving average of $22.09.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. SouthState Bank Corp bought a new position in Global X Variable Rate Preferred ETF during the 1st quarter worth $44,000. Harbour Investments Inc. boosted its position in shares of Global X Variable Rate Preferred ETF by 16.4% in the fourth quarter. Harbour Investments Inc. now owns 15,746 shares of the company’s stock valued at $350,000 after acquiring an additional 2,214 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Global X Variable Rate Preferred ETF by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 99,521 shares of the company’s stock valued at $2,192,000 after acquiring an additional 3,095 shares during the period. Bedel Financial Consulting Inc. grew its stake in shares of Global X Variable Rate Preferred ETF by 2.1% in the second quarter. Bedel Financial Consulting Inc. now owns 169,993 shares of the company’s stock valued at $3,745,000 after acquiring an additional 3,466 shares in the last quarter. Finally, Bank of America Corp DE increased its position in 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 worth $2,965,000 after acquiring an additional 6,153 shares during the period.

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.