Short Interest in Principal Value ETF (NASDAQ:PY) Drops By 62.7%

Principal Value ETF (NASDAQ:PY) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 2,200 shares, a drop of 62.7% from the September 15th total of 5,900 shares. Based on an average daily volume of 4,500 shares, the days-to-cover ratio is presently 0.5 days.

Principal Value ETF Price Performance

Shares of Principal Value ETF stock opened at $49.97 on Friday. The company has a market capitalization of $76.45 million, a price-to-earnings ratio of 19.65 and a beta of 1.15. The business has a fifty day simple moving average of $48.34 and a two-hundred day simple moving average of $46.71. Principal Value ETF has a 1 year low of $36.85 and a 1 year high of $50.10.

Institutional Trading of Principal Value ETF

A hedge fund recently raised its stake in Principal Value ETF stock. Envestnet Asset Management Inc. boosted its holdings in Principal Value ETF (NASDAQ:PY) by 19.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 784,656 shares of the company’s stock after purchasing an additional 128,901 shares during the quarter. Envestnet Asset Management Inc. owned 51.96% of Principal Value ETF worth $36,071,000 at the end of the most recent reporting period.

About Principal Value ETF

The Principal Value ETF (PY) 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 exhibit higher degrees of shareholder yield. PY was launched on Mar 21, 2016 and is managed by Principal.