Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF – Get Free Report) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 80,451 shares, a decline of 39.0% from the June 15th total of 131,915 shares. Based on an average daily trading volume, of 230,249 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.
Principal Spectrum Preferred Securities Active ETF Stock Performance
Shares of PREF remained flat at $18.96 during trading hours on Friday. The stock had a trading volume of 75,197 shares, compared to its average volume of 255,950. The firm’s 50 day simple moving average is $18.98 and its 200 day simple moving average is $19.03. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.64 and a 12-month high of $19.32.
Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF
Several institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its holdings in Principal Spectrum Preferred Securities Active ETF by 136.4% during the 1st quarter. Jane Street Group LLC now owns 114,087 shares of the company’s stock valued at $2,133,000 after buying an additional 65,823 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Principal Spectrum Preferred Securities Active ETF by 3,031.9% in the second quarter. JPMorgan Chase & Co. now owns 77,295 shares of the company’s stock worth $1,466,000 after purchasing an additional 74,827 shares during the last quarter. NewEdge Advisors LLC raised its position in Principal Spectrum Preferred Securities Active ETF by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 158,682 shares of the company’s stock valued at $3,010,000 after purchasing an additional 6,946 shares during the last quarter. Bank of America Corp DE raised its position in 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 purchasing an additional 992,700 shares during the last quarter. Finally, MML Investors Services LLC bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the 2nd quarter worth approximately $729,000.
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.
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