Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Grows By 116.7%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 131,915 shares, a growth of 116.7% from the May 31st total of 60,865 shares. Based on an average daily volume of 215,188 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. acquired a new stake in Principal Spectrum Preferred Securities Active ETF during the third quarter worth approximately $20,659,000. Bank of America Corp DE raised its holdings in Principal Spectrum Preferred Securities Active ETF by 10.8% in the 2nd quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock valued at $193,912,000 after acquiring an additional 992,700 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Principal Spectrum Preferred Securities Active ETF by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock valued at $75,366,000 after acquiring an additional 359,536 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% during the 4th quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock worth $57,794,000 after purchasing an additional 308,735 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% during the 4th 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.

Principal Spectrum Preferred Securities Active ETF Stock Performance

NYSEARCA:PREF opened at $19.05 on Tuesday. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.64 and a 12-month high of $19.32. The company’s 50-day moving average is $19.00 and its two-hundred day moving average is $19.04.

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.