Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Stock Short Interest Rises 5,501.9%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a large 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. Based on an average daily volume of 506,548 shares, the days-to-cover ratio is currently 5.3 days. Currently, 2.5% of the shares of the stock are sold short.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of PREF traded up $0.02 during trading hours on Monday, reaching $18.30. The company had a trading volume of 639,982 shares, compared to its average volume of 294,682. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.16 and a 12-month high of $19.32. The firm has a 50 day simple moving average of $18.56 and a 200-day simple moving average of $18.82.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its holdings in Principal Spectrum Preferred Securities Active ETF by 160.9% during the third 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. Axxcess Wealth Management LLC boosted its position in shares of 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 worth $381,000 after buying an additional 6,994 shares in the last quarter. Focused Alpha LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 0.4% in the third quarter. Focused Alpha LLC now owns 298,041 shares of the company’s stock valued at $5,469,000 after purchasing an additional 1,307 shares in the last quarter. LexAurum Advisors LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 8.6% in the third quarter. LexAurum Advisors LLC now owns 65,359 shares of the company’s stock valued at $1,199,000 after purchasing an additional 5,165 shares in the last quarter. Finally, Activest Wealth Management increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 162.0% during the 3rd quarter. Activest Wealth Management now owns 84,473 shares of the company’s stock worth $1,550,000 after purchasing an additional 52,230 shares in the last quarter.

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.