Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Volume Increase – Time to Buy?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw strong trading volume on Friday . 869,042 shares changed hands during mid-day trading, an increase of 161% from the previous session’s volume of 332,781 shares.The stock last traded at $19.1050 and had previously closed at $19.08.

Principal Spectrum Preferred Securities Active ETF Price Performance

The business’s fifty day simple moving average is $19.07 and its 200-day simple moving average is $19.03.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. lifted its position in Principal Spectrum Preferred Securities Active ETF by 2.3% during the third quarter. Heritage Wealth Management Inc. now owns 25,882 shares of the company’s stock valued at $495,000 after purchasing an additional 582 shares in the last quarter. Flagstar Advisors Inc. lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.2% in the second quarter. Flagstar Advisors Inc. now owns 78,578 shares of the company’s stock worth $1,491,000 after buying an additional 914 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Principal Spectrum Preferred Securities Active ETF by 2.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 44,543 shares of the company’s stock valued at $845,000 after acquiring an additional 1,101 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Principal Spectrum Preferred Securities Active ETF by 0.8% during the second quarter. J.W. Cole Advisors Inc. now owns 136,786 shares of the company’s stock valued at $2,595,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 92.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,577 shares of the company’s stock worth $49,000 after purchasing an additional 1,237 shares during the last quarter.

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.