Principal Spectrum Preferred Securities Active ETF $PREF Shares Bought by Cornerstone Advisors Asset Management LLC

Cornerstone Advisors Asset Management LLC lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 7.1% during the third quarter, Holdings Channel reports. The fund owned 563,152 shares of the company’s stock after purchasing an additional 37,204 shares during the quarter. Principal Spectrum Preferred Securities Active ETF comprises 1.9% of Cornerstone Advisors Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Cornerstone Advisors Asset Management LLC’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $10,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Principal Spectrum Preferred Securities Active ETF by 136.4% in the 1st quarter. Jane Street Group LLC now owns 114,087 shares of the company’s stock valued at $2,133,000 after purchasing an additional 65,823 shares during the last quarter. Truist Financial Corp increased its stake in Principal Spectrum Preferred Securities Active ETF by 3.5% in the second quarter. Truist Financial Corp now owns 56,237 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,922 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 58.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,829 shares of the company’s stock valued at $1,951,000 after acquiring an additional 38,019 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 2.5% during 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. Finally, IFC Advisors LLC lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.5% during the 2nd quarter. IFC Advisors LLC now owns 2,819,142 shares of the company’s stock worth $53,479,000 after acquiring an additional 41,413 shares during the period.

Principal Spectrum Preferred Securities Active ETF Price Performance

PREF opened at $19.06 on Tuesday. Principal Spectrum Preferred Securities Active ETF has a 1 year low of $18.06 and a 1 year high of $19.26. The company’s 50 day simple moving average is $19.10 and its 200 day simple moving average is $19.06.

Principal Spectrum Preferred Securities Active ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.081 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, February 2nd.

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.