Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) Sees Large Growth in Short Interest

Pacer Trendpilot Fund of Funds ETF (NYSEARCA:TRND) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,053 shares, an increase of 2,016.5% from the June 15th total of 97 shares. Based on an average daily volume of 3,869 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

Pacer Trendpilot Fund of Funds ETF Price Performance

TRND stock traded up $0.08 during midday trading on Friday, reaching $36.93. The company had a trading volume of 91 shares, compared to its average volume of 3,478. The firm has a 50-day moving average price of $36.56 and a 200-day moving average price of $35.09. The company has a market capitalization of $62.78 million, a P/E ratio of 15.57 and a beta of 0.52. Pacer Trendpilot Fund of Funds ETF has a 1 year low of $30.59 and a 1 year high of $38.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Planning Group LLC bought a new position in Pacer Trendpilot Fund of Funds ETF in the first quarter valued at $2,206,000. Raymond James Financial Inc. lifted its stake in Pacer Trendpilot Fund of Funds ETF by 31.9% during the second quarter. Raymond James Financial Inc. now owns 110,740 shares of the company’s stock worth $3,537,000 after purchasing an additional 26,799 shares during the last quarter. Gaddis Premier Wealth Advisors LLC bought a new stake in Pacer Trendpilot Fund of Funds ETF during the fourth quarter worth about $654,000. Royal Bank of Canada boosted its holdings in shares of Pacer Trendpilot Fund of Funds ETF by 1,244.1% in the 1st quarter. Royal Bank of Canada now owns 17,877 shares of the company’s stock worth $591,000 after purchasing an additional 16,547 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in shares of Pacer Trendpilot Fund of Funds ETF by 100.0% in the 4th quarter. Prospera Financial Services Inc now owns 19,397 shares of the company’s stock worth $653,000 after purchasing an additional 9,700 shares in the last quarter.

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.