Principal Investment Grade Corporate ETF (BATS:IG) Short Interest Update

Principal Investment Grade Corporate ETF (BATS:IG) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 30,228 shares, a drop of 41.7% from the August 15th total of 51,852 shares. Based on an average trading volume of 24,550 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Principal Investment Grade Corporate ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Principal Investment Grade Corporate ETF by 8.4% in the 1st quarter. Royal Bank of Canada now owns 76,048 shares of the company’s stock worth $1,570,000 after buying an additional 5,881 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Principal Investment Grade Corporate ETF in the 4th quarter valued at about $246,000. Insight Wealth Partners LLC grew its stake in shares of Principal Investment Grade Corporate ETF by 13.3% during the second quarter. Insight Wealth Partners LLC now owns 256,849 shares of the company’s stock valued at $5,308,000 after acquiring an additional 30,221 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in shares of Principal Investment Grade Corporate ETF during the second quarter valued at about $802,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Principal Investment Grade Corporate ETF during the first quarter worth about $2,768,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Principal Investment Grade Corporate ETF Price Performance

IG opened at $19.93 on Wednesday. The firm’s 50 day moving average is $20.21 and its 200-day moving average is $20.50. Principal Investment Grade Corporate ETF has a 52-week low of $19.88 and a 52-week high of $21.36. The firm has a market capitalization of $199.30 million, a P/E ratio of 332.17 and a beta of 0.37.

Principal Investment Grade Corporate ETF Company Profile

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.