Principal Investment Grade Corporate ETF (BATS:IG – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 42,572 shares, a drop of 38.5% from the September 30th total of 69,268 shares. Based on an average daily trading volume, of 56,076 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.4% of the company’s stock are short sold.
Principal Investment Grade Corporate ETF Trading Down 0.4%
Shares of IG opened at $19.77 on Friday. The company’s fifty day simple moving average is $19.86 and its 200 day simple moving average is $20.44. Principal Investment Grade Corporate ETF has a 1-year low of $19.35 and a 1-year high of $21.24. The company has a market cap of $197.70 million, a price-to-earnings ratio of 329.50 and a beta of 0.37.
Institutional Investors Weigh In On Principal Investment Grade Corporate ETF
Several hedge funds have recently bought and sold shares of IG. Envestnet Asset Management Inc. grew its holdings in Principal Investment Grade Corporate ETF by 33.1% during the second quarter. Envestnet Asset Management Inc. now owns 6,322,167 shares of the company’s stock worth $130,648,000 after purchasing an additional 1,573,300 shares during the period. Spartan Wealth Advisory Services LLC acquired a new stake in shares of Principal Investment Grade Corporate ETF in the first quarter valued at approximately $10,511,000. Western Wealth Management LLC acquired a new stake in shares of Principal Investment Grade Corporate ETF in the first quarter valued at approximately $2,768,000. BTG Pactual Asset Management US LLC bought a new position in shares of Principal Investment Grade Corporate ETF during the 2nd quarter worth approximately $802,000. Finally, Insight Wealth Partners LLC boosted its stake in shares of Principal Investment Grade Corporate ETF by 13.3% during the 2nd quarter. Insight Wealth Partners LLC now owns 256,849 shares of the company’s stock worth $5,308,000 after acquiring an additional 30,221 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.
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.
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