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

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 100,826 shares, a decline of 49.9% from the July 30th total of 201,240 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 185,147 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently made changes to their positions in PREF. South Plains Financial Inc. raised its stake in shares of Principal Spectrum Preferred Securities Active ETF by 5.3% in the 4th quarter. South Plains Financial Inc. now owns 12,414 shares of the company’s stock valued at $237,000 after acquiring an additional 627 shares during the period. Flagstar Advisors Inc. lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.5% in the 1st quarter. Flagstar Advisors Inc. now owns 53,210 shares of the company’s stock worth $1,001,000 after acquiring an additional 771 shares during the last quarter. BTG Pactual Asset Management US LLC boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 4.5% during the 4th quarter. BTG Pactual Asset Management US LLC now owns 31,478 shares of the company’s stock worth $597,000 after purchasing an additional 1,342 shares during the period. Evelyn Partners Asset Management Ltd purchased a new position in shares of Principal Spectrum Preferred Securities Active ETF during the 4th quarter worth approximately $29,000. Finally, Rothschild Investment LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the 4th quarter valued at approximately $29,000.

Principal Spectrum Preferred Securities Active ETF Price Performance

Shares of PREF remained flat at $18.87 during mid-day trading on Friday. 169,935 shares of the company traded hands, compared to its average volume of 249,858. Principal Spectrum Preferred Securities Active ETF has a 52-week low of $18.64 and a 52-week high of $19.32. The firm’s fifty day simple moving average is $18.91 and its 200 day simple moving average is $18.98.

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.