Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Unusually-High Trading Volume – What’s Next?

Shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw unusually-high trading volume on Friday . Approximately 1,433,450 shares changed hands during mid-day trading, an increase of 549% from the previous session’s volume of 221,024 shares.The stock last traded at $18.72 and had previously closed at $18.76.

Principal Spectrum Preferred Securities Active ETF Stock Down 0.2 %

The stock has a fifty day simple moving average of $18.70 and a two-hundred day simple moving average of $18.70.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 13.6% during the third quarter. Principal Financial Group Inc. now owns 111,581 shares of the company’s stock valued at $2,099,000 after buying an additional 13,338 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Principal Spectrum Preferred Securities Active ETF by 1,395.0% in the third quarter. JPMorgan Chase & Co. now owns 40,903 shares of the company’s stock worth $769,000 after purchasing an additional 38,167 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in Principal Spectrum Preferred Securities Active ETF by 3.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 35,921 shares of the company’s stock worth $668,000 after purchasing an additional 1,341 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Principal Spectrum Preferred Securities Active ETF by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 93,979 shares of the company’s stock worth $1,768,000 after purchasing an additional 3,145 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its position in Principal Spectrum Preferred Securities Active ETF by 14.0% in the fourth quarter. Fiduciary Alliance LLC now owns 85,843 shares of the company’s stock worth $1,598,000 after purchasing an additional 10,541 shares during the last quarter.

Principal Spectrum Preferred Securities Active ETF Company Profile

The Principal Spectrum Preferred Securities Active ETF (PREF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund with a primary focus on $1,000 par preferred securities. PREF was launched on Jul 10, 2017 and is managed by Principal.