Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Unusually-High Trading Volume – Here’s Why

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw unusually-strong trading volume on Friday . 379,103 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 248,430 shares.The stock last traded at $18.84 and had previously closed at $18.83.

Principal Spectrum Preferred Securities Active ETF Stock Performance

The company has a 50 day moving average of $18.93 and a 200-day moving average of $18.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rothschild Investment LLC bought a new stake in Principal Spectrum Preferred Securities Active ETF during the fourth quarter valued at approximately $29,000. Evelyn Partners Asset Management Ltd bought a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 4th quarter worth $29,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 126.5% in the 4th 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. Boreal Capital Management LLC purchased a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the 1st quarter valued at $163,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the 4th quarter valued at $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.