Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Short Interest Update

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 350,686 shares, a growth of 240.5% from the April 15th total of 102,987 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 209,213 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PREF. Ameriprise Financial Inc. acquired a new position in Principal Spectrum Preferred Securities Active ETF during the third quarter valued at $20,659,000. Bank of America Corp DE lifted its position in Principal Spectrum Preferred Securities Active ETF by 10.8% during the second quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock valued at $193,912,000 after purchasing an additional 992,700 shares during the period. Wells Fargo & Company MN lifted its position in Principal Spectrum Preferred Securities Active ETF by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock valued at $75,366,000 after purchasing an additional 359,536 shares during the period. LPL Financial LLC lifted its position in 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 purchasing an additional 308,735 shares during the period. Finally, Morgan Stanley lifted its position in 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 purchasing an additional 271,606 shares during the period.

Principal Spectrum Preferred Securities Active ETF Price Performance

Shares of PREF remained flat at $19.00 during trading hours on Thursday. 209,739 shares of the stock were exchanged, compared to its average volume of 263,999. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.63 and a 12-month high of $19.32. The stock has a 50-day simple moving average of $18.97 and a two-hundred day simple moving average of $19.06.

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.