Short Interest in VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Drops By 36.5%

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 550,735 shares, a drop of 36.5% from the May 14th total of 867,876 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 702,953 shares, the days-to-cover ratio is currently 0.8 days.

VanEck Preferred Securities ex Financials ETF Stock Performance

Shares of VanEck Preferred Securities ex Financials ETF stock opened at $18.45 on Monday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 0.59 and a beta of 0.62. The business has a fifty day simple moving average of $18.42 and a two-hundred day simple moving average of $18.15. VanEck Preferred Securities ex Financials ETF has a 12 month low of $16.75 and a 12 month high of $19.07.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in VanEck Preferred Securities ex Financials ETF by 15.2% during the first quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock valued at $93,860,000 after buying an additional 705,474 shares during the period. LPL Financial LLC lifted its position in VanEck Preferred Securities ex Financials ETF by 8.5% during the fourth quarter. LPL Financial LLC now owns 2,961,370 shares of the company’s stock valued at $52,298,000 after buying an additional 232,745 shares during the period. Raymond James Financial Inc. lifted its position in VanEck Preferred Securities ex Financials ETF by 3.5% during the third quarter. Raymond James Financial Inc. now owns 1,763,760 shares of the company’s stock valued at $31,342,000 after buying an additional 59,762 shares during the period. Tanager Wealth Management LLP raised its position in shares of VanEck Preferred Securities ex Financials ETF by 9.6% in the 1st quarter. Tanager Wealth Management LLP now owns 1,587,632 shares of the company’s stock worth $27,847,000 after purchasing an additional 138,544 shares during the last quarter. Finally, MML Investors Services LLC raised its position in shares of VanEck Preferred Securities ex Financials ETF by 6.7% in the 4th quarter. MML Investors Services LLC now owns 1,471,878 shares of the company’s stock worth $25,993,000 after purchasing an additional 92,611 shares during the last quarter.

VanEck Preferred Securities ex Financials ETF Company Profile

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.