Principal Healthcare Innovators ETF (NASDAQ:BTEC) Sees Large Growth in Short Interest

Principal Healthcare Innovators ETF (NASDAQ:BTEC) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,800 shares, a growth of 11.8% from the March 15th total of 3,400 shares. Based on an average daily trading volume, of 4,500 shares, the days-to-cover ratio is presently 0.8 days.

Principal Healthcare Innovators ETF Stock Down 0.8 %

Principal Healthcare Innovators ETF stock traded down $0.27 during mid-day trading on Tuesday, hitting $34.80. 433 shares of the company’s stock were exchanged, compared to its average volume of 4,047. The firm has a market capitalization of $40.72 million, a P/E ratio of 16.50 and a beta of 1.01. Principal Healthcare Innovators ETF has a fifty-two week low of $25.66 and a fifty-two week high of $39.75. The company’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $33.76.

Institutional Trading of Principal Healthcare Innovators ETF

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of Principal Healthcare Innovators ETF by 3.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,060 shares of the company’s stock valued at $636,000 after purchasing an additional 579 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Principal Healthcare Innovators ETF by 11.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,121 shares of the company’s stock valued at $242,000 after acquiring an additional 619 shares during the last quarter. UBS Group AG increased its position in shares of Principal Healthcare Innovators ETF by 175.8% in the first quarter. UBS Group AG now owns 3,839 shares of the company’s stock valued at $152,000 after acquiring an additional 2,447 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Principal Healthcare Innovators ETF in the third quarter valued at about $216,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Principal Healthcare Innovators ETF in the third quarter valued at about $1,074,000.

About Principal Healthcare Innovators ETF

The Principal Healthcare Innovators ETF (BTEC) is an exchange-traded fund that mostly invests in health care equity. The fund is actively managed to hold equities of small- and mid-cap healthcare firms in the US. The fund uses a proprietary, quantitative model to construct the portfolio. BTEC was launched on Aug 19, 2016 and is managed by Principal.