Short Interest in Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Drops By 47.7%

Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 13,244 shares, a drop of 47.7% from the March 15th total of 25,310 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,449 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Principal Investment Grade Corporate Active ETF

Several hedge funds have recently bought and sold shares of IG. Royal Bank of Canada grew its position in shares of Principal Investment Grade Corporate Active ETF by 3.8% in the first quarter. Royal Bank of Canada now owns 57,374 shares of the company’s stock valued at $1,186,000 after purchasing an additional 2,089 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Principal Investment Grade Corporate Active ETF in the first quarter valued at $828,000. Raymond James Financial Inc. grew its position in shares of Principal Investment Grade Corporate Active ETF by 0.8% in the second quarter. Raymond James Financial Inc. now owns 782,002 shares of the company’s stock valued at $16,273,000 after purchasing an additional 6,366 shares during the period. Jane Street Group LLC purchased a new stake in shares of Principal Investment Grade Corporate Active ETF in the second quarter valued at $575,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Principal Investment Grade Corporate Active ETF in the third quarter valued at $27,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Principal Investment Grade Corporate Active ETF Price Performance

Principal Investment Grade Corporate Active ETF stock traded up $0.12 during mid-day trading on Monday, hitting $20.77. 48,878 shares of the company were exchanged, compared to its average volume of 38,181. The business’s 50 day simple moving average is $20.81 and its two-hundred day simple moving average is $20.93. The company has a market capitalization of $166.16 million, a P/E ratio of 346.17 and a beta of 0.40. Principal Investment Grade Corporate Active ETF has a 12-month low of $20.12 and a 12-month high of $21.36.

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.