Cornerstone Advisors Asset Management LLC boosted its holdings in shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF – Free Report) by 30.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842,806 shares of the company’s stock after purchasing an additional 194,292 shares during the period. Principal Spectrum Preferred Securities Active ETF comprises approximately 2.1% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 13th largest holding. Cornerstone Advisors Asset Management LLC’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $16,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PREF. Bank of America Corp DE grew its position 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 buying an additional 491,520 shares during the last quarter. UBS Group AG increased its position in Principal Spectrum Preferred Securities Active ETF by 2.3% during the 3rd quarter. UBS Group AG now owns 7,083,973 shares of the company’s stock valued at $135,587,000 after purchasing an additional 162,008 shares during the period. Morgan Stanley increased its position in Principal Spectrum Preferred Securities Active ETF by 4.1% during the 4th quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock valued at $130,935,000 after purchasing an additional 271,606 shares during the period. Wells Fargo & Company MN raised its holdings in 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 purchasing an additional 359,536 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Principal Spectrum Preferred Securities Active ETF by 6.6% in the 4th quarter. Royal Bank of Canada now owns 3,313,098 shares of the company’s stock worth $63,181,000 after purchasing an additional 206,495 shares during the period.
Principal Spectrum Preferred Securities Active ETF Stock Up 0.1%
Shares of PREF opened at $18.78 on Friday. The firm’s 50-day moving average price is $18.89 and its 200-day moving average price is $18.96. Principal Spectrum Preferred Securities Active ETF has a 1-year low of $18.64 and a 1-year high of $19.32.
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.
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