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

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a significant 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. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 231,479 shares, the days-to-cover ratio is currently 0.1 days.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of Principal Spectrum Preferred Securities Active ETF stock traded up $0.02 on Friday, hitting $19.05. The stock had a trading volume of 212,083 shares, compared to its average volume of 265,336. The stock has a 50 day moving average of $18.95 and a 200 day moving average of $19.05. Principal Spectrum Preferred Securities Active ETF has a twelve month low of $18.64 and a twelve month high of $19.32.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 4.4% in the 1st quarter. Bank of America Corp DE now owns 11,736,590 shares of the company’s stock worth $220,883,000 after purchasing an additional 491,520 shares in the last quarter. Boreal Capital Management LLC bought a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 1st quarter worth $163,000. Cornerstone Advisors Asset Management LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 5.4% in the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 648,514 shares of the company’s stock worth $12,205,000 after purchasing an additional 33,062 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 1st quarter worth $4,807,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 25.8% in the 1st quarter. Sanctuary Advisors LLC now owns 137,547 shares of the company’s stock worth $2,589,000 after purchasing an additional 28,171 shares in the last quarter.

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.