Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Increases By 93.4%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 60,865 shares, an increase of 93.4% from the May 14th total of 31,476 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 287,712 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 4.4% in the first quarter. Bank of America Corp DE now owns 11,736,590 shares of the company’s stock worth $220,883,000 after purchasing an additional 491,520 shares during the period. UBS Group AG boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 1.4% in the fourth quarter. UBS Group AG now owns 7,181,546 shares of the company’s stock worth $136,952,000 after purchasing an additional 97,573 shares during the period. Morgan Stanley boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% in the fourth quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock worth $130,935,000 after purchasing an additional 271,606 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 purchasing an additional 359,536 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 6.6% in the fourth quarter. Royal Bank of Canada now owns 3,313,098 shares of the company’s stock worth $63,181,000 after purchasing an additional 206,495 shares during the period.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of PREF traded up $0.04 during mid-day trading on Monday, reaching $19.02. The stock had a trading volume of 187,151 shares, compared to its average volume of 260,451. Principal Spectrum Preferred Securities Active ETF has a 12 month low of $18.64 and a 12 month high of $19.32. The business has a fifty day moving average of $18.99 and a 200 day moving average of $19.04.

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.