Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sets New 1-Year Low – Time to Sell?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $18.57 and last traded at $18.57, with a volume of 285083 shares. The stock had previously closed at $18.66.

Principal Spectrum Preferred Securities Active ETF Stock Performance

The business has a 50 day simple moving average of $18.81 and a 200-day simple moving average of $18.92.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of Principal Spectrum Preferred Securities Active ETF by 102.7% during the 2nd quarter. IFP Advisors Inc now owns 5,956 shares of the company’s stock valued at $114,000 after acquiring an additional 3,017 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 7.3% during the 2nd quarter. Baird Financial Group Inc. now owns 258,863 shares of the company’s stock worth $4,934,000 after acquiring an additional 17,564 shares in the last quarter. NBH Bank acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 2nd quarter worth $217,000. Cornerstone Advisors Asset Management LLC raised its position in shares of Principal Spectrum Preferred Securities Active ETF by 30.0% during the second quarter. Cornerstone Advisors Asset Management LLC now owns 842,806 shares of the company’s stock worth $16,064,000 after purchasing an additional 194,292 shares during the period. Finally, Rogco LP raised its position in shares of Principal Spectrum Preferred Securities Active ETF by 2.2% during the second quarter. Rogco LP now owns 406,720 shares of the company’s stock worth $7,752,000 after purchasing an additional 8,610 shares during the period.

About Principal Spectrum Preferred Securities Active ETF

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.