Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Short Interest Update

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 131,915 shares, an increase of 116.7% from the May 31st total of 60,865 shares. Based on an average daily trading volume, of 215,188 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PREF. UBS Group AG grew its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.4% during the fourth quarter. UBS Group AG now owns 7,181,546 shares of the company’s stock worth $136,952,000 after buying an additional 97,573 shares in the last quarter. Mengis Capital Management Inc. acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $809,000. Bensler LLC lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.1% in the fourth quarter. Bensler LLC now owns 707,404 shares of the company’s stock worth $13,490,000 after buying an additional 64,639 shares in the last quarter. L2 Asset Management LLC purchased a new position in shares of Principal Spectrum Preferred Securities Active ETF in the third quarter worth about $5,004,000. Finally, Principal Securities Inc. boosted its position in Principal Spectrum Preferred Securities Active ETF by 37.8% during the fourth quarter. Principal Securities Inc. now owns 927,395 shares of the company’s stock worth $17,685,000 after acquiring an additional 254,600 shares during the last quarter.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of NYSEARCA PREF traded down $0.08 during midday trading on Wednesday, hitting $18.98. The stock had a trading volume of 303,231 shares, compared to its average volume of 258,356. The stock has a 50 day simple moving average of $19.00 and a 200-day simple moving average of $19.04. Principal Spectrum Preferred Securities Active ETF has a 1 year low of $18.64 and a 1 year 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.