Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Increases By 93.4%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 60,865 shares, an increase of 93.4% from the May 14th total of 31,476 shares. Based on an average daily trading volume, of 287,712 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Principal Spectrum Preferred Securities Active ETF Trading Up 0.1%

Principal Spectrum Preferred Securities Active ETF stock traded up $0.02 during mid-day trading on Friday, reaching $18.98. The company had a trading volume of 249,655 shares, compared to its average volume of 261,106. The stock’s 50-day simple moving average is $18.99 and its 200-day simple moving average is $19.04. Principal Spectrum Preferred Securities Active ETF has a 1 year low of $18.64 and a 1 year high of $19.32.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PREF. Ameriprise Financial Inc. purchased a new position in shares of Principal Spectrum Preferred Securities Active ETF during the 3rd quarter worth approximately $20,659,000. Bank of America Corp DE increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.8% during the 2nd quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock worth $193,912,000 after purchasing an additional 992,700 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock worth $75,366,000 after purchasing an additional 359,536 shares in the last quarter. LPL Financial LLC increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% during the 4th quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock worth $57,794,000 after purchasing an additional 308,735 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% during the 4th quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock worth $130,935,000 after purchasing an additional 271,606 shares in the last quarter.

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.