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

Principal Value ETF (NASDAQ:PY) saw a large 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. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 15,783 shares, the days-to-cover ratio is presently 1.4 days.

Principal Value ETF Price Performance

Shares of Principal Value ETF stock opened at $54.53 on Friday. Principal Value ETF has a one year low of $49.21 and a one year high of $54.84. The stock’s 50-day moving average is $53.89 and its 200 day moving average is $53.01. The firm 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 declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st will be paid a $0.263 dividend. This represents a $1.05 annualized dividend and a yield of 1.9%. This is a boost from Principal Value ETF’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, July 1st.

Hedge Funds Weigh In On Principal Value ETF

A number of institutional investors and hedge funds have recently modified their holdings of PY. Principal Financial Group Inc. increased its stake in shares of Principal Value ETF by 155.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,973,436 shares of the company’s stock valued at $101,636,000 after acquiring an additional 1,199,677 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Principal Value ETF by 24.0% during the 4th quarter. Principal Securities Inc. now owns 1,157,632 shares of the company’s stock valued at $60,419,000 after acquiring an additional 224,296 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Principal Value ETF by 30,404.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,876 shares of the company’s stock worth $2,133,000 after acquiring an additional 40,742 shares in the last quarter. Citadel Advisors LLC bought a new position in Principal Value ETF during the third quarter worth $803,000. Finally, Kestra Advisory Services LLC acquired a new stake in Principal Value ETF in the fourth quarter worth $555,000.

About Principal Value ETF

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.