Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Short Interest Update

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 31,476 shares, a decline of 91.0% from the April 30th total of 350,686 shares. Based on an average daily volume of 231,479 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PREF. Jane Street Group LLC lifted its position in Principal Spectrum Preferred Securities Active ETF by 136.4% in the 1st quarter. Jane Street Group LLC now owns 114,087 shares of the company’s stock valued at $2,133,000 after acquiring an additional 65,823 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Principal Spectrum Preferred Securities Active ETF by 3,031.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 77,295 shares of the company’s stock valued at $1,466,000 after acquiring an additional 74,827 shares in the last quarter. NewEdge Advisors LLC lifted its position in Principal Spectrum Preferred Securities Active ETF by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 158,682 shares of the company’s stock valued at $3,010,000 after acquiring an additional 6,946 shares in the last quarter. Bank of America Corp DE lifted its position in Principal Spectrum Preferred Securities Active ETF by 10.8% in the 2nd quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock valued at $193,912,000 after acquiring an additional 992,700 shares in the last quarter. Finally, MML Investors Services LLC bought a new position in Principal Spectrum Preferred Securities Active ETF in the 2nd quarter valued at approximately $729,000.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of PREF traded up $0.01 during mid-day trading on Thursday, reaching $19.04. The company had a trading volume of 204,585 shares, compared to its average volume of 265,864. The firm has a 50-day moving average price of $18.95 and a 200 day moving average price of $19.05. Principal Spectrum Preferred Securities Active ETF has a 52 week low of $18.64 and a 52 week high of $19.32.

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.