Principal Spectrum Preferred Securities Active ETF $PREF Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its position in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 6.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,103,712 shares of the company’s stock after selling 209,386 shares during the period. Royal Bank of Canada’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $58,411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PREF. Boreal Capital Management LLC purchased a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the 1st quarter worth about $163,000. Cornerstone Advisors Asset Management LLC increased its holdings in Principal Spectrum Preferred Securities Active ETF by 5.4% during the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 648,514 shares of the company’s stock valued at $12,205,000 after acquiring an additional 33,062 shares in the last quarter. Spartan Wealth Advisory Services LLC purchased a new position in Principal Spectrum Preferred Securities Active ETF during the 1st quarter valued at about $4,807,000. Sanctuary Advisors LLC raised its position in Principal Spectrum Preferred Securities Active ETF by 25.8% during the first quarter. Sanctuary Advisors LLC now owns 137,547 shares of the company’s stock worth $2,589,000 after acquiring an additional 28,171 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Principal Spectrum Preferred Securities Active ETF by 17.7% during the first quarter. Principal Financial Group Inc. now owns 313,421 shares of the company’s stock worth $5,899,000 after acquiring an additional 47,166 shares during the last quarter.

Principal Spectrum Preferred Securities Active ETF Stock Up 0.1%

Shares of NYSEARCA PREF opened at $18.88 on Friday. The firm’s 50-day moving average is $18.97 and its two-hundred day moving average is $19.02. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.64 and a 12-month high of $19.32.

Principal Spectrum Preferred Securities Active ETF 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.