Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Increases By 93.4%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 60,865 shares, a growth of 93.4% from the May 14th total of 31,476 shares. Based on an average daily trading volume, of 287,712 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PREF. Ameriprise Financial Inc. purchased a new position in Principal Spectrum Preferred Securities Active ETF during the third quarter worth about $20,659,000. Bank of America Corp DE raised its holdings in Principal Spectrum Preferred Securities Active ETF by 10.8% during the second quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock worth $193,912,000 after purchasing an additional 992,700 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Principal Spectrum Preferred Securities Active ETF by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock worth $75,366,000 after purchasing an additional 359,536 shares in the last quarter. LPL Financial LLC raised its holdings in Principal Spectrum Preferred Securities Active ETF by 11.3% during the fourth quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock worth $57,794,000 after purchasing an additional 308,735 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Principal Spectrum Preferred Securities Active ETF by 4.1% during the fourth quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock worth $130,935,000 after purchasing an additional 271,606 shares in the last quarter.

Principal Spectrum Preferred Securities Active ETF Trading Up 0.1%

NYSEARCA PREF traded up $0.02 during trading hours on Friday, hitting $18.98. 249,655 shares of the stock were exchanged, compared to its average volume of 261,106. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.64 and a 12-month high of $19.32. The stock has a 50-day moving average of $18.99 and a 200 day moving average of $19.04.

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.