The **Virtus InfraCap U.S. Preferred Stock ETF** (NYSEARCA:PFFA) has experienced a significant increase in short interest, with the total reaching **381,820 shares** as of **February 13, 2023**. This figure marks a **31.9%** rise from the **289,439 shares** recorded on **January 29, 2023**. Given the average daily trading volume of **978,873 shares**, the current days-to-cover ratio stands at **0.4 days**, indicating that approximately **0.4%** of PFFA’s total shares are currently short sold.
Institutional Investors Adjust Positions
Recent activities among institutional investors and hedge funds indicate a strategic shift in holdings related to PFFA. **AdvisorNet Financial Inc.** increased its stake in the ETF by **37.2%** during the fourth quarter, now owning **295,733 shares** valued at approximately **$6.37 million** after acquiring an additional **80,180 shares**.
In a remarkable move, **JPMorgan Chase & Co.** raised its position by a staggering **34,786.8%** in the third quarter, bringing its total to **53,028 shares** worth around **$1.15 million** due to the purchase of **52,876 additional shares**. Meanwhile, **Sunbelt Securities Inc.** entered the market by purchasing a new stake valued at around **$442,000** during the fourth quarter.
**Future Financial Wealth Management LLC** also boosted its holdings by **11.4%** in the third quarter, increasing its ownership to **170,126 shares** valued at about **$3.69 million** after acquiring an additional **17,435 shares**. Finally, **Farther Finance Advisors LLC** significantly expanded its position by **514.1%** during the fourth quarter, acquiring **18,805 shares** worth approximately **$405,000** after buying **15,743 additional shares**.
PFFA Trading Performance and Overview
On **Monday**, PFFA traded down slightly by **$0.01**, bringing its share price to **$21.43**. A total of **898,800 shares** changed hands during trading, compared to the average volume of **975,198 shares**. Over the past year, PFFA has seen a low of **$19.20** and a high of **$22.50**, with a **50-day simple moving average** of **$21.76** and a **200-day simple moving average** of **$21.73**.
Launched on **May 15, 2018**, the **Virtus InfraCap U.S. Preferred Stock ETF** is designed to track the **SP US Preferred Stock Index**. It is actively managed, focusing on U.S. preferred stocks while seeking current income and aiming for capital appreciation as a secondary objective.
For those interested in regular updates, a concise daily summary of the latest news and analyst ratings for PFFA can be received by subscribing to MarketBeat.com’s free email newsletter.
