Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Decline in Short Interest

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 163,803 shares, a drop of 93.9% from the October 15th total of 2,672,491 shares. Based on an average trading volume of 665,881 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Trading of Principal Spectrum Preferred Securities Active ETF

Large investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 102.7% during the 2nd quarter. IFP Advisors Inc now owns 5,956 shares of the company’s stock valued at $114,000 after purchasing an additional 3,017 shares in the last quarter. Boreal Capital Management LLC bought a new position in Principal Spectrum Preferred Securities Active ETF in the first quarter valued at approximately $163,000. Asset Dedication LLC acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF in the third quarter valued at approximately $184,000. NBH Bank bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the second quarter worth $217,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the third quarter worth $256,000.

Principal Spectrum Preferred Securities Active ETF Stock Down 0.1%

NYSEARCA:PREF traded down $0.01 during trading hours on Wednesday, hitting $18.43. The stock had a trading volume of 400,002 shares, compared to its average volume of 308,141. Principal Spectrum Preferred Securities Active ETF has a one year low of $18.16 and a one year high of $19.32. The business’s 50 day moving average is $18.46 and its 200-day moving average is $18.85.

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.