Principal Investment Grade Corporate ETF (BATS:IG) Sees Significant Decline in Short Interest

Principal Investment Grade Corporate ETF (BATS:IG) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 30,228 shares, a decline of 41.7% from the August 15th total of 51,852 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 24,550 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Principal Investment Grade Corporate ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Principal Investment Grade Corporate ETF by 8.4% during the 1st quarter. Royal Bank of Canada now owns 76,048 shares of the company’s stock valued at $1,570,000 after acquiring an additional 5,881 shares during the period. AlphaCore Capital LLC bought a new position in shares of Principal Investment Grade Corporate ETF in the fourth quarter worth $246,000. Insight Wealth Partners LLC increased its position 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 worth $5,308,000 after purchasing an additional 30,221 shares during the period. BTG Pactual Asset Management US LLC acquired a new position in Principal Investment Grade Corporate ETF in the second quarter valued at about $802,000. Finally, Western Wealth Management LLC acquired a new position in Principal Investment Grade Corporate ETF in the first quarter valued at about $2,768,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Principal Investment Grade Corporate ETF Price Performance

Shares of BATS IG opened at $19.96 on Thursday. The firm has a market cap of $199.60 million, a price-to-earnings ratio of 332.67 and a beta of 0.37. The stock’s fifty day moving average price is $20.20 and its two-hundred day moving average price is $20.49. Principal Investment Grade Corporate ETF has a one year low of $19.88 and a one year high of $21.36.

About Principal Investment Grade Corporate ETF

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.