Principal Spectrum Preferred Securities Active ETF $PREF Stock Position Lowered by AXS Investments LLC

AXS Investments LLC decreased its position in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 40.6% in the first quarter, HoldingsChannel reports. The firm owned 73,183 shares of the company’s stock after selling 49,920 shares during the period. AXS Investments LLC’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $1,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. acquired a new stake in Principal Spectrum Preferred Securities Active ETF during the 3rd quarter valued at $20,659,000. Bank of America Corp DE boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 10.8% in the second quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock worth $193,912,000 after buying an additional 992,700 shares during the period. Wells Fargo & Company MN boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock worth $75,366,000 after buying an additional 359,536 shares during the period. LPL Financial LLC grew its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% during the fourth quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock valued at $57,794,000 after buying an additional 308,735 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% during the fourth quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock valued at $130,935,000 after buying an additional 271,606 shares in the last quarter.

Principal Spectrum Preferred Securities Active ETF Price Performance

NYSEARCA:PREF opened at $18.96 on Friday. Principal Spectrum Preferred Securities Active ETF has a 1-year low of $18.64 and a 1-year high of $19.32. The business’s fifty day moving average price is $18.98 and its 200 day moving average price is $19.03.

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.