VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Stock Short Interest Declines 53.0%

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 160,713 shares, a decrease of 53.0% from the September 30th total of 341,607 shares. Based on an average daily volume of 903,991 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Trading of VanEck Preferred Securities ex Financials ETF

A number of large investors have recently made changes to their positions in PFXF. Susquehanna International Group LLP acquired a new stake in VanEck Preferred Securities ex Financials ETF during the 2nd quarter worth $3,688,000. Royal Bank of Canada grew its stake in VanEck Preferred Securities ex Financials ETF by 47.5% in the first quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock valued at $8,491,000 after acquiring an additional 155,882 shares during the period. Tassel Capital Management Inc. acquired a new position in VanEck Preferred Securities ex Financials ETF in the second quarter valued at about $1,207,000. Independent Financial Group LLC bought a new stake in shares of VanEck Preferred Securities ex Financials ETF in the first quarter worth about $1,936,000. Finally, Bank of America Corp DE increased its holdings in shares of VanEck Preferred Securities ex Financials ETF by 15.2% in the first quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock worth $93,860,000 after acquiring an additional 705,474 shares in the last quarter.

VanEck Preferred Securities ex Financials ETF Price Performance

PFXF traded down $0.21 during mid-day trading on Friday, hitting $16.66. The stock had a trading volume of 781,025 shares, compared to its average volume of 769,091. The stock’s fifty day simple moving average is $17.56 and its 200-day simple moving average is $18.00. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 0.59 and a beta of 0.64. VanEck Preferred Securities ex Financials ETF has a 1-year low of $16.57 and a 1-year high of $19.07.

About VanEck Preferred Securities ex Financials ETF

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.