Short Interest in Principal Healthcare Innovators ETF (NASDAQ:BTEC) Decreases By 10.5%

Principal Healthcare Innovators ETF (NASDAQ:BTEC) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 3,400 shares, a drop of 10.5% from the March 31st total of 3,800 shares. Based on an average daily volume of 5,300 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Principal Healthcare Innovators ETF stock. Elevated Capital Advisors LLC lifted its stake in shares of Principal Healthcare Innovators ETF (NASDAQ:BTEC) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,275 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Elevated Capital Advisors LLC owned 0.61% of Principal Healthcare Innovators ETF worth $301,000 as of its most recent SEC filing.

Principal Healthcare Innovators ETF Price Performance

Shares of BTEC traded up $0.80 during trading hours on Monday, hitting $35.10. The company’s stock had a trading volume of 3,882 shares, compared to its average volume of 5,060. The business has a 50 day simple moving average of $36.97 and a two-hundred day simple moving average of $34.06. Principal Healthcare Innovators ETF has a 52-week low of $25.66 and a 52-week high of $39.75. The company has a market cap of $37.56 million, a price-to-earnings ratio of 16.50 and a beta of 1.01.

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.