Principal Real Estate Active Opportunities ETF (NYSEARCA:BYRE) Sees Significant Drop in Short Interest

by · The Cerbat Gem

Principal Real Estate Active Opportunities ETF (NYSEARCA:BYRE – Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 2,519 shares, a drop of 67.0% from the August 15th total of 7,637 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 2,391 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BYRE. Commonwealth Equity Services LLC bought a new stake in Principal Real Estate Active Opportunities ETF during the 4th quarter valued at $209,000. Virtu Financial LLC bought a new position in shares of Principal Real Estate Active Opportunities ETF in the fourth quarter worth $261,000. Finally, Principal Securities Inc. boosted its holdings in shares of Principal Real Estate Active Opportunities ETF by 26.7% in the fourth quarter. Principal Securities Inc. now owns 573,727 shares of the company’s stock worth $14,033,000 after acquiring an additional 120,985 shares during the period.

Principal Real Estate Active Opportunities ETF Price Performance

Shares of BYRE traded up $0.19 during trading hours on Friday, hitting $26.74. The company’s stock had a trading volume of 1,806 shares, compared to its average volume of 3,452. The business has a 50 day simple moving average of $27.51 and a two-hundred day simple moving average of $26.97. Principal Real Estate Active Opportunities ETF has a 52-week low of $24.24 and a 52-week high of $28.58. The company has a market cap of $26.74 million, a price-to-earnings ratio of 35.23 and a beta of 0.86.

Principal Real Estate Active Opportunities ETF Company Profile

(Get Free Report)

The Principal Real Estate Active Opportunities ETF (BYRE) is an exchange-traded fund that mostly invests in real estate equity. The fund is an actively managed, non-transparent fund that seeks total return by centering on US-listed companies in the real estate industry, selected using a bottom-up fundamental approach. The fund utilizes the Fidelity non-transparent model. BYRE was launched on May 18, 2022 and is managed by Principal.

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