Principal Spectrum Tax-Advantaged Dividend Active ETF (NYSEARCA:PQDI) Sees Large Increase in Short Interest

Principal Spectrum Tax-Advantaged Dividend Active ETF (NYSEARCA:PQDI) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,299 shares, an increase of 91.4% from the June 15th total of 2,246 shares. Based on an average daily volume of 9,526 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in Principal Spectrum Tax-Advantaged Dividend Active ETF in the 4th quarter worth approximately $614,000. Principal Securities Inc. increased its holdings in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 42.5% during the 4th quarter. Principal Securities Inc. now owns 734,899 shares of the company’s stock valued at $14,386,000 after purchasing an additional 219,061 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 186,734 shares of the company’s stock valued at $3,668,000 after purchasing an additional 7,411 shares during the period. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Principal Spectrum Tax-Advantaged Dividend Active ETF by 4.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 31,447 shares of the company’s stock valued at $616,000 after purchasing an additional 1,447 shares during the period.

Principal Spectrum Tax-Advantaged Dividend Active ETF Price Performance

PQDI traded up $0.02 during midday trading on Thursday, hitting $19.36. 3,769 shares of the company were exchanged, compared to its average volume of 6,115. The company’s 50 day simple moving average is $19.40 and its 200 day simple moving average is $19.50. Principal Spectrum Tax-Advantaged Dividend Active ETF has a 1-year low of $19.00 and a 1-year high of $20.07.

About Principal Spectrum Tax-Advantaged Dividend Active ETF

The Principal Spectrum Tax-Advantaged Dividend Active ETF (PQDI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively selects dividend-paying securities that have favorable federal tax treatment, including preferred and capital securities, from global issuers. PQDI was launched on Jun 17, 2020 and is managed by Principal.