Principal Value ETF (NASDAQ:PY) Sees Significant Drop in Short Interest

Principal Value ETF (NASDAQ:PY) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 22,140 shares, a decline of 38.6% from the May 31st total of 36,046 shares. Based on an average daily trading volume, of 15,783 shares, the short-interest ratio is presently 1.4 days. Approximately 0.6% of the company’s shares are short sold.

Principal Value ETF Stock Performance

PY opened at $54.53 on Friday. The stock’s 50 day moving average price is $53.86 and its 200-day moving average price is $53.00. Principal Value ETF has a one year low of $49.21 and a one year high of $54.84. The stock has a market cap of $223.03 million, a price-to-earnings ratio of 17.40 and a beta of 0.83.

Principal Value ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.263 per share. This represents a $1.05 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, July 1st. This is an increase from Principal Value ETF’s previous quarterly dividend of $0.22.

Institutional Trading of Principal Value ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in Principal Value ETF by 2.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 20,794 shares of the company’s stock worth $1,093,000 after purchasing an additional 473 shares in the last quarter. LPL Financial LLC raised its position in Principal Value ETF by 3.4% during the 4th quarter. LPL Financial LLC now owns 26,455 shares of the company’s stock valued at $1,381,000 after purchasing an additional 863 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Principal Value ETF during the 2nd quarter valued at $117,000. Integrity Wealth Partners LLC purchased a new stake in shares of Principal Value ETF in the 1st quarter worth $308,000. Finally, Jane Street Group LLC purchased a new stake in shares of Principal Value ETF in the 2nd quarter worth $297,000.

Principal Value ETF Company Profile

The Principal Value ETF (PY) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that exhibit higher degrees of shareholder yield. PY was launched on Mar 21, 2016 and is managed by Principal.