Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Decrease in Short Interest

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 100,826 shares, a drop of 49.9% from the July 30th total of 201,240 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 185,147 shares, the days-to-cover ratio is presently 0.5 days.

Principal Spectrum Preferred Securities Active ETF Trading Down 0.1%

PREF traded down $0.01 during trading on Monday, hitting $18.86. 138,318 shares of the stock were exchanged, compared to its average volume of 249,186. Principal Spectrum Preferred Securities Active ETF has a 1-year low of $18.64 and a 1-year high of $19.32. The stock has a fifty day moving average price of $18.91 and a two-hundred day moving average price of $18.98.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of institutional investors have recently modified their holdings of PREF. Evelyn Partners Asset Management Ltd acquired a new stake in Principal Spectrum Preferred Securities Active ETF during the 4th quarter worth $29,000. Rothschild Investment LLC purchased a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $29,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 126.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,035 shares of the company’s stock valued at $58,000 after buying an additional 1,695 shares during the last quarter. Boreal Capital Management LLC acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the first quarter worth about $163,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth about $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.