Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF – Get Free Report) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 201,240 shares, an increase of 185.8% from the July 15th total of 70,419 shares. Based on an average daily trading volume, of 202,037 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the shares of the company are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Principal Spectrum Preferred Securities Active ETF by 4.4% in the 1st quarter. Bank of America Corp DE now owns 11,736,590 shares of the company’s stock worth $220,883,000 after purchasing an additional 491,520 shares during the period. UBS Group AG lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 1.4% during the 4th quarter. UBS Group AG now owns 7,181,546 shares of the company’s stock valued at $136,952,000 after buying an additional 97,573 shares during the period. Morgan Stanley lifted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% during the 4th quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock valued at $130,935,000 after buying an additional 271,606 shares during the period. Wells Fargo & Company MN lifted its holdings 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 period. Finally, Royal Bank of Canada boosted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 6.6% in the 4th quarter. Royal Bank of Canada now owns 3,313,098 shares of the company’s stock worth $63,181,000 after buying an additional 206,495 shares during the last quarter.
Principal Spectrum Preferred Securities Active ETF Stock Down 0.2%
Shares of NYSEARCA PREF opened at $18.83 on Friday. The firm’s 50-day moving average price is $18.94 and its 200-day moving average price is $19.00. Principal Spectrum Preferred Securities Active ETF has a 52-week low of $18.64 and a 52-week high of $19.32.
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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