Short Interest in Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Declines By 70.6%

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the target of a large decline in short interest in May. As of May 15th, there was short interest totaling 23,474 shares, a decline of 70.6% from the April 30th total of 79,825 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 64,694 shares, the days-to-cover ratio is presently 0.4 days.

Global X Variable Rate Preferred ETF Trading Down 0.1%

Shares of PFFV stock traded down $0.03 during trading hours on Friday, hitting $22.37. The stock had a trading volume of 37,445 shares, compared to its average volume of 60,997. Global X Variable Rate Preferred ETF has a one year low of $21.70 and a one year high of $23.38. The stock’s 50-day moving average price is $22.18 and its two-hundred day moving average price is $22.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its stake in Global X Variable Rate Preferred ETF by 531.6% during the third quarter. Envestnet Asset Management Inc. now owns 519,963 shares of the company’s stock valued at $12,022,000 after purchasing an additional 437,637 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Global X Variable Rate Preferred ETF by 84.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 681,034 shares of the company’s stock worth $14,866,000 after buying an additional 311,788 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Global X Variable Rate Preferred ETF in the 4th quarter worth about $3,092,000. LFG Wealth Partners LLC bought a new stake in shares of Global X Variable Rate Preferred ETF in the 4th quarter worth about $2,060,000. Finally, Ironsides Asset Advisors LLC raised its position in shares of Global X Variable Rate Preferred ETF by 26.3% during the 3rd quarter. Ironsides Asset Advisors LLC now owns 287,455 shares of the company’s stock valued at $6,646,000 after buying an additional 59,802 shares in the last quarter.

Global X Variable Rate Preferred ETF Company Profile

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.