Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Significant Drop in Short Interest

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a large decrease in short interest in August. As of August 14th, there was short interest totaling 100,826 shares, a decrease of 49.9% from the July 30th total of 201,240 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 185,147 shares, the days-to-cover ratio is currently 0.5 days.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of NYSEARCA PREF remained flat at $18.87 during mid-day trading on Friday. The company had a trading volume of 169,935 shares, compared to its average volume of 249,858. Principal Spectrum Preferred Securities Active ETF has a 52 week low of $18.64 and a 52 week high of $19.32. The company has a 50 day moving average price of $18.91 and a 200-day moving average price of $18.98.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Hedge funds have recently bought and sold shares of the company. Evelyn Partners Asset Management Ltd bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the 4th quarter worth approximately $29,000. Rothschild Investment LLC bought a new position in Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC raised its position in Principal Spectrum Preferred Securities Active ETF by 126.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,035 shares of the company’s stock valued at $58,000 after purchasing an additional 1,695 shares in the last quarter. Boreal Capital Management LLC acquired a new position in Principal Spectrum Preferred Securities Active ETF during the first quarter valued at approximately $163,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth $197,000.

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.