Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Shares Shorted: Short Interest Up 5,501.9% in October

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 2,672,491 shares, an increase of 5,501.9% from the September 30th total of 47,707 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 506,548 shares, the short-interest ratio is currently 5.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 160.9% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 20,717 shares of the company’s stock worth $380,000 after acquiring an additional 12,777 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 50.8% in the third quarter. Axxcess Wealth Management LLC now owns 20,757 shares of the company’s stock worth $381,000 after acquiring an additional 6,994 shares during the last quarter. Focused Alpha LLC boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 0.4% in the third quarter. Focused Alpha LLC now owns 298,041 shares of the company’s stock worth $5,469,000 after acquiring an additional 1,307 shares during the last quarter. LexAurum Advisors LLC grew its holdings in Principal Spectrum Preferred Securities Active ETF by 8.6% in the third quarter. LexAurum Advisors LLC now owns 65,359 shares of the company’s stock valued at $1,199,000 after purchasing an additional 5,165 shares during the period. Finally, Activest Wealth Management grew its holdings in Principal Spectrum Preferred Securities Active ETF by 162.0% in the third quarter. Activest Wealth Management now owns 84,473 shares of the company’s stock valued at $1,550,000 after purchasing an additional 52,230 shares during the period.

Principal Spectrum Preferred Securities Active ETF Stock Performance

NYSEARCA PREF traded up $0.02 during trading hours on Monday, hitting $18.30. 639,982 shares of the company’s stock were exchanged, compared to its average volume of 294,682. The business’s 50 day moving average is $18.56 and its 200-day moving average is $18.82. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.16 and a 12-month 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.