Principal Quality ETF (NASDAQ:PSET) Sees Significant Drop in Short Interest

Principal Quality ETF (NASDAQ:PSET) saw a large decrease in short interest during the month of 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 short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Principal Quality ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Principal Quality ETF by 18.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,909 shares of the company’s stock valued at $403,000 after purchasing an additional 922 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Principal Quality ETF in the first quarter worth $12,677,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Principal Quality ETF by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 232,913 shares of the company’s stock valued at $15,901,000 after purchasing an additional 23,372 shares in the last quarter.

Principal Quality ETF Trading Down 1.2 %

NASDAQ PSET traded down $0.85 on Tuesday, reaching $71.70. 1,140 shares of the company were exchanged, compared to its average volume of 1,923. The business’s fifty day moving average price is $68.94 and its 200 day moving average price is $67.64. Principal Quality ETF has a fifty-two week low of $51.67 and a fifty-two week high of $72.68. The stock has a market capitalization of $57.36 million, a P/E 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.