Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Reaches New 52-Week Low – Here’s What Happened

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)’s share price reached a new 52-week low on Wednesday. The company traded as low as $18.57 and last traded at $18.57, with a volume of 285083 shares traded. The stock had previously closed at $18.66.

Principal Spectrum Preferred Securities Active ETF Stock Down 0.1%

The firm has a 50 day moving average price of $18.79 and a 200-day moving average price of $18.91.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Evelyn Partners Asset Management Ltd acquired a new position in Principal Spectrum Preferred Securities Active ETF during the 4th quarter worth approximately $29,000. Rothschild Investment LLC acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the 4th quarter valued at $29,000. IFP Advisors Inc lifted its position in shares of Principal Spectrum Preferred Securities Active ETF by 102.7% during the 2nd quarter. IFP Advisors Inc now owns 5,956 shares of the company’s stock worth $114,000 after purchasing an additional 3,017 shares during the last quarter. Boreal Capital Management LLC acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the first quarter worth $163,000. Finally, NBH Bank acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the second quarter worth $217,000.

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.