Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Sees Large Increase in Short Interest

Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 17,200 shares, an increase of 145.7% from the May 15th total of 7,000 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 19,100 shares, the days-to-cover ratio is presently 0.9 days.

Principal Investment Grade Corporate Active ETF Stock Down 0.6%

NYSEARCA:IG traded down $0.12 during mid-day trading on Friday, reaching $20.49. 13,421 shares of the company were exchanged, compared to its average volume of 19,669. Principal Investment Grade Corporate Active ETF has a 12 month low of $19.75 and a 12 month high of $21.55. The company has a fifty day moving average of $20.33 and a 200 day moving average of $20.49.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Principal Investment Grade Corporate Active ETF during the 4th quarter worth approximately $958,000. Citadel Advisors LLC acquired a new stake in Principal Investment Grade Corporate Active ETF during the 4th quarter worth approximately $868,000. Bank of America Corp DE raised its holdings in Principal Investment Grade Corporate Active ETF by 83.0% during the 4th quarter. Bank of America Corp DE now owns 26,225 shares of the company’s stock worth $533,000 after buying an additional 11,898 shares during the period. Raymond James Financial Inc. acquired a new stake in Principal Investment Grade Corporate Active ETF during the 4th quarter worth approximately $13,701,000. Finally, Jane Street Group LLC raised its holdings in Principal Investment Grade Corporate Active ETF by 78.3% during the 4th quarter. Jane Street Group LLC now owns 67,783 shares of the company’s stock worth $1,379,000 after buying an additional 29,777 shares during the period.

Principal Investment Grade Corporate Active 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.