Principal Investment Grade Corporate ETF (BATS:IG) Shares Shorted: Short Interest Down 38.5% in October

Principal Investment Grade Corporate ETF (BATS:IG) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 42,572 shares, a decline of 38.5% from the September 30th total of 69,268 shares. Based on an average daily volume of 56,076 shares, the short-interest ratio is currently 0.8 days. Currently, 0.4% of the company’s stock are sold short.

Principal Investment Grade Corporate ETF Stock Performance

Shares of IG opened at $19.77 on Friday. The stock has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $20.44. Principal Investment Grade Corporate ETF has a 52-week low of $19.35 and a 52-week high of $21.24. The firm has a market capitalization of $197.70 million, a PE ratio of 329.50 and a beta of 0.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Principal Investment Grade Corporate ETF by 33.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,322,167 shares of the company’s stock worth $130,648,000 after purchasing an additional 1,573,300 shares in the last quarter. Insight Wealth Partners LLC lifted its holdings in shares of Principal Investment Grade Corporate ETF by 13.3% in the second 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 in the last quarter. BTG Pactual Asset Management US LLC bought a new stake in shares of Principal Investment Grade Corporate ETF in the second quarter valued at about $802,000. Western Wealth Management LLC acquired a new position in shares of Principal Investment Grade Corporate ETF during the first quarter worth about $2,768,000. Finally, Royal Bank of Canada grew its holdings in shares of Principal Investment Grade Corporate ETF by 8.4% during the first quarter. Royal Bank of Canada now owns 76,048 shares of the company’s stock worth $1,570,000 after buying an additional 5,881 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

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.