Principal Quality ETF (NASDAQ:PSET) Sees Large Drop in Short Interest

Principal Quality ETF (NASDAQ:PSET) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 29 shares, a decrease of 56.1% from the June 30th total of 66 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 922 shares, the short-interest ratio is presently 0.0 days.

Principal Quality ETF Stock Performance

Principal Quality ETF stock traded up $1.05 during mid-day trading on Tuesday, reaching $77.95. The company’s stock had a trading volume of 527 shares, compared to its average volume of 2,670. Principal Quality ETF has a 12 month low of $67.62 and a 12 month high of $78.20. The business’s 50 day simple moving average is $75.74 and its 200 day simple moving average is $74.52. The company has a market capitalization of $28.06 million, a price-to-earnings ratio of 29.66 and a beta of 1.00.

Principal Quality ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, July 1st were given a $0.1526 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This is a positive change from Principal Quality ETF’s previous quarterly dividend of $0.14. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.8%.

Hedge Funds Weigh In On Principal Quality ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSET. Farther Finance Advisors LLC increased its position in Principal Quality ETF by 100.3% during the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the company’s stock worth $46,000 after buying an additional 300 shares during the period. Assetmark Inc. boosted its holdings in Principal Quality ETF by 26.9% in the 4th quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock valued at $111,000 after purchasing an additional 309 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Principal Quality ETF in the fourth quarter valued at approximately $65,000. Smartleaf Asset Management LLC boosted its stake in shares of Principal Quality ETF by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,095 shares of the company’s stock valued at $392,000 after buying an additional 1,019 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Principal Quality ETF by 13.3% in the second quarter. Raymond James Financial Inc. now owns 8,708 shares of the company’s stock valued at $641,000 after buying an additional 1,023 shares during the period.

About Principal Quality ETF

The Principal Quality ETF (PSET) 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 are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.