Principal Spectrum Preferred Securities Active ETF $PREF Shares Acquired by Cornerstone Advisors Asset Management LLC

Cornerstone Advisors Asset Management LLC boosted its position in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 563,152 shares of the company’s stock after purchasing an additional 37,204 shares during the period. Principal Spectrum Preferred Securities Active ETF comprises approximately 1.9% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 14th largest position. Cornerstone Advisors Asset Management LLC owned about 0.79% of Principal Spectrum Preferred Securities Active ETF worth $10,779,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of Principal Spectrum Preferred Securities Active ETF during the 2nd quarter worth approximately $45,000. Steward Partners Investment Advisory LLC grew its holdings in Principal Spectrum Preferred Securities Active ETF by 92.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,577 shares of the company’s stock worth $49,000 after acquiring an additional 1,237 shares during the period. Laurel Wealth Advisors LLC raised its position in Principal Spectrum Preferred Securities Active ETF by 1,797.3% in the second quarter. Laurel Wealth Advisors LLC now owns 3,510 shares of the company’s stock worth $67,000 after acquiring an additional 3,325 shares in the last quarter. Private Trust Co. NA raised its position in Principal Spectrum Preferred Securities Active ETF by 78.5% in the second quarter. Private Trust Co. NA now owns 6,094 shares of the company’s stock worth $116,000 after acquiring an additional 2,680 shares in the last quarter. Finally, Cascade Financial Partners LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the second quarter valued at $330,000.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of NYSEARCA PREF opened at $19.06 on Tuesday. Principal Spectrum Preferred Securities Active ETF has a one year low of $18.06 and a one year high of $19.26. The company’s fifty day moving average is $19.10 and its two-hundred day moving average is $19.06.

Principal Spectrum Preferred Securities Active ETF Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd will be issued a $0.081 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 5.1%.

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.