Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Large Growth in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 157,899 shares, a growth of 331.4% from the July 30th total of 36,600 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 135,139 shares, the days-to-cover ratio is currently 1.2 days.

Global X Variable Rate Preferred ETF Trading Down 0.1%

Shares of NYSEARCA PFFV traded down $0.02 during midday trading on Friday, reaching $22.06. The company had a trading volume of 28,648 shares, compared to its average volume of 65,702. The firm’s fifty day moving average price is $22.03 and its 200-day moving average price is $22.18. Global X Variable Rate Preferred ETF has a one year low of $21.70 and a one year high of $23.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFFV. Janney Montgomery Scott LLC increased its position in shares of Global X Variable Rate Preferred ETF by 84.4% during the first quarter. Janney Montgomery Scott LLC now owns 681,034 shares of the company’s stock valued at $14,866,000 after buying an additional 311,788 shares during the period. Benjamin Edwards Inc. purchased a new stake in Global X Variable Rate Preferred ETF in the fourth quarter worth about $3,092,000. Rockefeller Capital Management L.P. boosted its position in Global X Variable Rate Preferred ETF by 64.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 128,997 shares of the company’s stock valued at $2,866,000 after acquiring an additional 50,579 shares in the last quarter. Dearborn Partners LLC purchased a new position in shares of Global X Variable Rate Preferred ETF during the 4th quarter worth approximately $509,000. Finally, Foguth Wealth Management LLC. bought a new position in shares of Global X Variable Rate Preferred ETF in the 1st quarter worth approximately $4,621,000.

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.