Pacer American Energy Independence ETF (NYSEARCA:USAI) Sees Large Drop in Short Interest

Pacer American Energy Independence ETF (NYSEARCA:USAI) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 23,989 shares, a drop of 53.3% from the May 31st total of 51,414 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 8,666 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Pacer American Energy Independence ETF

Hedge funds have recently modified their holdings of the business. Flow Traders U.S. LLC grew its stake in shares of Pacer American Energy Independence ETF by 44.8% in the third quarter. Flow Traders U.S. LLC now owns 20,696 shares of the company’s stock worth $825,000 after purchasing an additional 6,399 shares during the last quarter. SL Advisors LLC raised its position in Pacer American Energy Independence ETF by 14.9% during the 4th quarter. SL Advisors LLC now owns 95,895 shares of the company’s stock worth $3,658,000 after purchasing an additional 12,430 shares during the last quarter. Finally, Magnolia Private Wealth LLC bought a new position in Pacer American Energy Independence ETF during the 4th quarter worth $475,000.

Pacer American Energy Independence ETF Trading Down 1.1%

NYSEARCA:USAI traded down $0.50 during mid-day trading on Wednesday, hitting $45.00. 6,241 shares of the company’s stock were exchanged, compared to its average volume of 12,799. Pacer American Energy Independence ETF has a fifty-two week low of $36.49 and a fifty-two week high of $49.14. The firm has a market capitalization of $103.50 million, a P/E ratio of 19.96 and a beta of 0.62. The company has a 50 day simple moving average of $45.99 and a 200-day simple moving average of $43.84.

Pacer American Energy Independence ETF Company Profile

The Pacer American Energy Independence ETF (USAI) is an exchange-traded fund that is based on the American Energy Independence index. The fund tracks an index of US and Canadian MLPs involved in midstream energy infrastructure. USAI was launched on Dec 13, 2017 and is managed by Pacer.