Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Sees Significant Decline in Short Interest
by Danessa Lincoln · The Markets DailyPrincipal Investment Grade Corporate Active ETF (NYSEARCA:IG – Get Free Report) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 13,244 shares, a decrease of 47.7% from the March 15th total of 25,310 shares. Based on an average daily trading volume, of 25,449 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are short sold.
Principal Investment Grade Corporate Active ETF Price Performance
NYSEARCA:IG traded down $0.03 during midday trading on Wednesday, hitting $20.77. The company’s stock had a trading volume of 771 shares, compared to its average volume of 38,305. Principal Investment Grade Corporate Active ETF has a fifty-two week low of $20.12 and a fifty-two week high of $21.36. The firm’s 50 day moving average is $20.80 and its 200-day moving average is $20.93. The firm has a market cap of $166.16 million, a P/E ratio of 346.17 and a beta of 0.40.
Hedge Funds Weigh In On Principal Investment Grade Corporate Active ETF
Several hedge funds and other institutional investors have recently bought and sold shares of IG. Global Retirement Partners LLC acquired a new position in Principal Investment Grade Corporate Active ETF in the 3rd quarter worth approximately $27,000. AE Wealth Management LLC acquired a new position in Principal Investment Grade Corporate Active ETF in the 3rd quarter worth approximately $82,000. AlphaCore Capital LLC acquired a new position in Principal Investment Grade Corporate Active ETF in the 4th quarter worth approximately $246,000. Citadel Advisors LLC increased its holdings in Principal Investment Grade Corporate Active ETF by 55.3% in the 3rd quarter. Citadel Advisors LLC now owns 27,169 shares of the company’s stock worth $573,000 after buying an additional 9,678 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Principal Investment Grade Corporate Active ETF in the 2nd quarter worth approximately $575,000. Institutional investors and hedge funds own 70.98% of the company’s stock.
About Principal Investment Grade Corporate Active ETF
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.