Cornerstone Advisors Asset Management LLC Buys 33,062 Shares of Principal Spectrum Preferred Securities Active ETF $PREF

Cornerstone Advisors Asset Management LLC lifted its position in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 5.4% in the first quarter, Holdings Channel reports. The firm owned 648,514 shares of the company’s stock after buying an additional 33,062 shares during the period. Principal Spectrum Preferred Securities Active ETF accounts for 1.9% of Cornerstone Advisors Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Cornerstone Advisors Asset Management LLC’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $12,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Principal Spectrum Preferred Securities Active ETF by 5.1% during the 3rd quarter. Bank of America Corp DE now owns 10,746,893 shares of the company’s stock worth $205,696,000 after purchasing an additional 524,870 shares during the period. UBS Group AG lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.4% in the 4th 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 during the period. Morgan Stanley lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% in the 4th quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock worth $130,935,000 after buying an additional 271,606 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock worth $75,366,000 after buying an additional 359,536 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Principal Spectrum Preferred Securities Active ETF by 6.6% during the 4th quarter. Royal Bank of Canada now owns 3,313,098 shares of the company’s stock worth $63,181,000 after buying an additional 206,495 shares in the last quarter.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of Principal Spectrum Preferred Securities Active ETF stock opened at $18.96 on Monday. Principal Spectrum Preferred Securities Active ETF has a 12 month low of $18.64 and a 12 month high of $19.32. The stock’s fifty day moving average price is $18.98 and its 200-day moving average price is $19.03.

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.