Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Volume Increase – Still a Buy?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) shares saw unusually-strong trading volume on Friday . Approximately 157,346 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 241,279 shares.The stock last traded at $19.1450 and had previously closed at $19.15.

Principal Spectrum Preferred Securities Active ETF Stock Performance

The firm’s 50 day simple moving average is $19.08 and its 200 day simple moving average is $19.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PREF. Advisory Services Network LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF during the 3rd quarter worth about $301,000. NewEdge Advisors LLC boosted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 88.5% in the third quarter. NewEdge Advisors LLC now owns 299,184 shares of the company’s stock worth $5,726,000 after buying an additional 140,502 shares during the last quarter. Mariner LLC grew its holdings in Principal Spectrum Preferred Securities Active ETF by 2.0% during the third quarter. Mariner LLC now owns 514,999 shares of the company’s stock worth $9,857,000 after acquiring an additional 10,242 shares during the period. L2 Asset Management LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF during the third quarter worth about $5,004,000. Finally, Focus Partners Wealth raised its position in Principal Spectrum Preferred Securities Active ETF by 0.7% during the third quarter. Focus Partners Wealth now owns 244,560 shares of the company’s stock valued at $4,681,000 after acquiring an additional 1,640 shares in the last quarter.

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.