Short Interest in Pacer American Energy Independence ETF (NYSEARCA:USAI) Drops By 53.9%

Pacer American Energy Independence ETF (NYSEARCA:USAI) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 11,055 shares, a decrease of 53.9% from the June 15th total of 23,989 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 13,337 shares, the days-to-cover ratio is presently 0.8 days.

Pacer American Energy Independence ETF Stock Performance

NYSEARCA USAI traded down $0.08 on Tuesday, reaching $46.77. 7,755 shares of the company’s stock traded hands, compared to its average volume of 12,744. The firm has a market cap of $116.93 million, a price-to-earnings ratio of 19.96 and a beta of 0.61. The stock has a 50 day moving average price of $46.12 and a 200-day moving average price of $44.36. Pacer American Energy Independence ETF has a fifty-two week low of $36.49 and a fifty-two week high of $49.14.

Hedge Funds Weigh In On Pacer American Energy Independence ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Magnolia Private Wealth LLC acquired a new stake in Pacer American Energy Independence ETF during the fourth quarter worth about $475,000. Flow Traders U.S. LLC lifted its holdings in 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 valued at $825,000 after acquiring an additional 6,399 shares during the period. Finally, SL Advisors LLC boosted its position in Pacer American Energy Independence ETF by 14.9% in 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 in the last quarter.

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.