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

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 2,672,491 shares, an increase of 5,501.9% from the September 30th total of 47,707 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 506,548 shares, the short-interest ratio is currently 5.3 days.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in 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. Boreal Capital Management LLC bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the 1st quarter worth approximately $163,000. NBH Bank acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the second quarter valued at $217,000. Pinnacle Bancorp Inc. grew its position in Principal Spectrum Preferred Securities Active ETF by 160.9% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 20,717 shares of the company’s stock worth $380,000 after purchasing an additional 12,777 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its position in Principal Spectrum Preferred Securities Active ETF by 50.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 20,757 shares of the company’s stock valued at $381,000 after acquiring an additional 6,994 shares during the period.

Principal Spectrum Preferred Securities Active ETF Price Performance

PREF stock traded up $0.04 during trading on Tuesday, reaching $18.34. 25,695 shares of the stock traded hands, compared to its average volume of 293,366. Principal Spectrum Preferred Securities Active ETF has a 52-week low of $18.16 and a 52-week high of $19.32. The business’s 50 day moving average price is $18.55 and its 200-day moving average price is $18.89.

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.