Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Sees Large Decrease in Short Interest

Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 79,825 shares, a decline of 43.0% from the April 15th total of 140,003 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 50,283 shares, the days-to-cover ratio is currently 1.6 days.

Global X Variable Rate Preferred ETF Stock Performance

Shares of NYSEARCA:PFFV traded up $0.04 during midday trading on Monday, hitting $22.30. 75,771 shares of the company’s stock traded hands, compared to its average volume of 62,494. The firm’s fifty day moving average price is $22.16 and its two-hundred day moving average price is $22.42. Global X Variable Rate Preferred ETF has a twelve month low of $21.70 and a twelve month high of $23.38.

Hedge Funds Weigh In On Global X Variable Rate Preferred ETF

Institutional investors have recently added to or reduced their stakes in the company. SouthState Bank Corp acquired a new position in Global X Variable Rate Preferred ETF in the 1st quarter worth $44,000. Glassman Wealth Services acquired a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth $49,000. Kestra Advisory Services LLC acquired a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth $80,000. Royal Bank of Canada acquired a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth $157,000. Finally, Fifth Third Bancorp acquired a new position in Global X Variable Rate Preferred ETF in the 1st quarter worth $214,000.

About Global X Variable Rate Preferred ETF

The Global X Variable Rate Preferred ETF (PFFV) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of variable rate US preferred securities, selected and weighted by market value. PFFV was launched on Jun 22, 2020 and is managed by Global X.