Short Interest in Global X Variable Rate Preferred ETF (NYSEARCA:PFFV) Declines By 43.0%

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

Global X Variable Rate Preferred ETF Stock Performance

Global X Variable Rate Preferred ETF stock traded down $0.05 during midday trading on Friday, reaching $22.26. 42,555 shares of the stock were exchanged, compared to its average volume of 62,352. The company’s fifty day moving average is $22.16 and its 200-day moving average is $22.43. Global X Variable Rate Preferred ETF has a 52 week low of $21.70 and a 52 week high of $23.38.

Institutional Trading of Global X Variable Rate Preferred ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. SouthState Bank Corp bought a new stake in Global X Variable Rate Preferred ETF during the 1st quarter worth approximately $44,000. Glassman Wealth Services purchased a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth approximately $49,000. Kestra Advisory Services LLC purchased a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth approximately $80,000. Royal Bank of Canada purchased a new position in Global X Variable Rate Preferred ETF in the 4th quarter worth approximately $157,000. Finally, Fifth Third Bancorp purchased a new position in Global X Variable Rate Preferred ETF in the 1st quarter worth approximately $214,000.

Global X Variable Rate Preferred ETF Company Profile

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.