Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Decreases By 39.0%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 80,451 shares, a drop of 39.0% from the June 15th total of 131,915 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 230,249 shares, the short-interest ratio is currently 0.3 days.

Principal Spectrum Preferred Securities Active ETF Stock Performance

PREF stock traded down $0.01 during trading on Thursday, reaching $18.94. The stock had a trading volume of 13,803 shares, compared to its average volume of 255,647. Principal Spectrum Preferred Securities Active ETF has a 1-year low of $18.64 and a 1-year high of $19.32. The firm has a fifty day moving average price of $18.98 and a 200 day moving average price of $19.03.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. purchased a new stake in Principal Spectrum Preferred Securities Active ETF during the 3rd quarter worth approximately $20,659,000. Bank of America Corp DE boosted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.8% during 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 buying an additional 992,700 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.0% during the 4th quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock valued at $75,366,000 after buying an additional 359,536 shares during the last quarter. LPL Financial LLC grew its position in shares of 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 worth $57,794,000 after buying an additional 308,735 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of 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 worth $130,935,000 after buying an additional 271,606 shares in the last quarter.

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.