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

Principal Investment Grade Corporate ETF (BATS:IG) was the recipient of a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 1,563 shares, a decline of 96.3% from the October 15th total of 42,572 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 65,190 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Principal Investment Grade Corporate ETF

Hedge funds have recently made changes to their positions in the company. Insight Wealth Partners LLC grew its position in shares of Principal Investment Grade Corporate ETF by 13.3% during the 2nd quarter. Insight Wealth Partners LLC now owns 256,849 shares of the company’s stock worth $5,308,000 after buying an additional 30,221 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Principal Investment Grade Corporate ETF by 33.1% in the second quarter. Envestnet Asset Management Inc. now owns 6,322,167 shares of the company’s stock valued at $130,648,000 after acquiring an additional 1,573,300 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in shares of Principal Investment Grade Corporate ETF in the first quarter valued at about $10,511,000. BTG Pactual Asset Management US LLC purchased a new stake in Principal Investment Grade Corporate ETF in the second quarter worth about $802,000. Finally, Western Wealth Management LLC purchased a new stake in Principal Investment Grade Corporate ETF in the first quarter worth about $2,768,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Principal Investment Grade Corporate ETF Stock Down 0.1%

Shares of BATS:IG opened at $19.80 on Thursday. The business’s 50 day moving average is $19.79 and its 200 day moving average is $20.40. The stock has a market cap of $204.93 million, a P/E ratio of 330.00 and a beta of 0.39. Principal Investment Grade Corporate ETF has a 52-week low of $19.35 and a 52-week high of $21.20.

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.