Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) Short Interest Down 78.0% in May

Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) was the target of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 1,638 shares, a decrease of 78.0% from the May 14th total of 7,459 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,440 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Pacer Trendpilot Fund of Funds ETF

Several institutional investors have recently modified their holdings of TRND. Royal Bank of Canada grew its position in shares of Pacer Trendpilot Fund of Funds ETF by 301.4% in the first quarter. Royal Bank of Canada now owns 9,735 shares of the company’s stock valued at $313,000 after purchasing an additional 7,310 shares during the period. Raymond James Financial Inc. grew its position in shares of Pacer Trendpilot Fund of Funds ETF by 31.9% in the second quarter. Raymond James Financial Inc. now owns 110,740 shares of the company’s stock valued at $3,537,000 after purchasing an additional 26,799 shares during the period. Bank of America Corp DE raised its holdings in shares of Pacer Trendpilot Fund of Funds ETF by 1.6% during the second quarter. Bank of America Corp DE now owns 184,012 shares of the company’s stock valued at $5,877,000 after acquiring an additional 2,939 shares during the last quarter. Prospera Financial Services Inc acquired a new position in shares of Pacer Trendpilot Fund of Funds ETF during the third quarter valued at approximately $326,000. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Pacer Trendpilot Fund of Funds ETF during the third quarter valued at approximately $275,000.

Pacer Trendpilot Fund of Funds ETF Price Performance

Shares of TRND stock opened at $36.22 on Wednesday. The company has a market cap of $57.95 million, a price-to-earnings ratio of 15.57 and a beta of 0.52. The stock has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $34.67. Pacer Trendpilot Fund of Funds ETF has a 1-year low of $30.59 and a 1-year high of $38.00.

Pacer Trendpilot Fund of Funds ETF Company Profile

The Pacer Trendpilot Fund of Funds ETF (TRND) is an exchange-traded fund that is based on the Pacer Trendpilot Fund of Funds index. TRND, a fund of funds, provides exposure to large- and mid-cap companies in developed markets including the US. Its underlying funds use momentum to toggle to cash at 50% or 100%. TRND was launched on May 3, 2019 and is managed by Pacer.