Short Interest in Principal Quality ETF (NASDAQ:PSET) Declines By 88.5%

Principal Quality ETF (NASDAQ:PSET) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 700 shares, a decline of 88.5% from the July 31st total of 6,100 shares. Based on an average daily trading volume, of 1,500 shares, the days-to-cover ratio is currently 0.5 days.

Principal Quality ETF Stock Performance

Shares of NASDAQ PSET traded up $0.05 during midday trading on Tuesday, hitting $69.17. 1,298 shares of the company traded hands, compared to its average volume of 2,023. Principal Quality ETF has a 12-month low of $51.67 and a 12-month high of $70.77. The stock has a 50-day moving average price of $67.99 and a 200 day moving average price of $66.85. The firm has a market cap of $53.95 million, a P/E ratio of 30.55 and a beta of 0.94.

Principal Quality ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, July 1st were given a dividend of $0.1094 per share. The ex-dividend date was Monday, July 1st.

Institutional Investors Weigh In On Principal Quality ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of PSET. Raymond James & Associates purchased a new stake in Principal Quality ETF in the fourth quarter worth about $262,000. Commonwealth Equity Services LLC grew 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 valued at $403,000 after buying an additional 922 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Principal Quality ETF during the fourth quarter valued at approximately $12,520,000. Cetera Investment Advisers purchased a new stake in shares of Principal Quality ETF during the first quarter valued at approximately $12,677,000. Finally, Envestnet Asset Management Inc. grew 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 valued at $15,901,000 after buying an additional 23,372 shares during the last quarter.

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.