Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF – Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 394,419 shares were traded during mid-day trading, an increase of 50% from the previous session’s volume of 263,620 shares.The stock last traded at $18.91 and had previously closed at $18.94.
Principal Spectrum Preferred Securities Active ETF Stock Performance
The firm’s 50-day moving average is $18.96 and its 200-day moving average is $19.06.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in PREF. Bank of America Corp DE lifted its stake in shares of 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 valued at $220,883,000 after purchasing an additional 491,520 shares during the period. UBS Group AG raised its holdings in Principal Spectrum Preferred Securities Active ETF by 1.4% in the fourth quarter. UBS Group AG now owns 7,181,546 shares of the company’s stock worth $136,952,000 after purchasing an additional 97,573 shares in the last quarter. Morgan Stanley lifted its position in 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 valued at $130,935,000 after buying an additional 271,606 shares during the period. Wells Fargo & Company MN lifted its position in Principal Spectrum Preferred Securities Active ETF by 10.0% during the fourth 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 holdings in shares of Principal Spectrum Preferred Securities Active ETF by 6.6% during the 4th quarter. Royal Bank of Canada now owns 3,313,098 shares of the company’s stock valued at $63,181,000 after buying an additional 206,495 shares in 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.
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