Principal Quality ETF (NASDAQ:PSET) Sees Large Decline in Short Interest

Principal Quality ETF (NASDAQ:PSET) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 400 shares, a decrease of 20.0% from the September 15th total of 500 shares. Based on an average trading volume of 1,300 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Principal Quality ETF

Several hedge funds and other institutional investors have recently modified their holdings of PSET. Cetera Investment Advisers grew its stake in Principal Quality ETF by 1.7% during the 2nd quarter. Cetera Investment Advisers now owns 190,042 shares of the company’s stock valued at $12,974,000 after acquiring an additional 3,122 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Principal Quality ETF by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 232,913 shares of the company’s stock worth $15,901,000 after purchasing an additional 23,372 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Principal Quality ETF by 18.5% during the second quarter. Commonwealth Equity Services LLC now owns 5,909 shares of the company’s stock worth $403,000 after purchasing an additional 922 shares during the period.

Principal Quality ETF Price Performance

Principal Quality ETF stock traded down $0.85 during midday trading on Tuesday, reaching $71.70. The stock had a trading volume of 1,140 shares, compared to its average volume of 1,923. The firm’s fifty day simple moving average is $68.94 and its two-hundred day simple moving average is $67.64. Principal Quality ETF has a twelve month low of $51.67 and a twelve month high of $72.68. The firm has a market cap of $57.36 million, a price-to-earnings ratio of 30.55 and a beta of 0.94.

About Principal Quality ETF

The Principal Quality ETF (PSET) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.