Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Shares Shorted: Short Interest Down 39.1% in September

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 69,334 shares, a decline of 39.1% from the August 31st total of 113,823 shares. Based on an average trading volume of 307,374 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Several institutional investors have recently modified their holdings of PREF. Bank of America Corp DE lifted its position in 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. IFC Advisors LLC grew its position in Principal Spectrum Preferred Securities Active ETF by 1.8% during the first quarter. IFC Advisors LLC now owns 2,730,332 shares of the company’s stock valued at $51,385,000 after acquiring an additional 48,223 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Principal Spectrum Preferred Securities Active ETF by 20.8% during the second quarter. Envestnet Asset Management Inc. now owns 1,303,346 shares of the company’s stock worth $24,842,000 after acquiring an additional 224,532 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Principal Spectrum Preferred Securities Active ETF by 37.8% during the fourth quarter. Principal Securities Inc. now owns 927,395 shares of the company’s stock worth $17,685,000 after acquiring an additional 254,600 shares in the last quarter. Finally, Cornerstone Advisors Asset Management LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 30.0% in the 2nd quarter. Cornerstone Advisors Asset Management LLC now owns 842,806 shares of the company’s stock worth $16,064,000 after acquiring an additional 194,292 shares during the last quarter.

Principal Spectrum Preferred Securities Active ETF Trading Down 0.4%

NYSEARCA PREF traded down $0.08 during trading hours on Thursday, reaching $18.27. 424,782 shares of the stock traded hands, compared to its average volume of 265,381. The stock has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $18.89. Principal Spectrum Preferred Securities Active ETF has a 1 year low of $18.16 and a 1 year 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.