Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Decline in Short Interest

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 31,476 shares, a drop of 91.0% from the April 30th total of 350,686 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 231,479 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Several large investors have recently modified their holdings of PREF. Rothschild Investment LLC bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth $29,000. Evelyn Partners Asset Management Ltd bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth $29,000. Flagship Harbor Advisors LLC bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth $36,000. Steward Partners Investment Advisory LLC raised its stake 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 worth $58,000 after buying an additional 1,695 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth $77,000.

Principal Spectrum Preferred Securities Active ETF Price Performance

Shares of PREF stock traded up $0.02 during trading hours on Friday, hitting $19.05. 212,083 shares of the company’s stock traded hands, compared to its average volume of 265,336. The stock’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $19.05. Principal Spectrum Preferred Securities Active ETF has a 12 month low of $18.64 and a 12 month high of $19.32.

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.