Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF – Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 2,672,491 shares, a growth of 5,501.9% from the September 30th total of 47,707 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 506,548 shares, the days-to-cover ratio is presently 5.3 days.
Principal Spectrum Preferred Securities Active ETF Price Performance
NYSEARCA:PREF opened at $18.34 on Wednesday. Principal Spectrum Preferred Securities Active ETF has a 52-week low of $18.16 and a 52-week high of $19.32. The stock has a fifty day moving average of $18.54 and a 200 day moving average of $18.89.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in Principal Spectrum Preferred Securities Active ETF by 102.7% in the 2nd quarter. IFP Advisors Inc now owns 5,956 shares of the company’s stock worth $114,000 after acquiring an additional 3,017 shares during the last quarter. Boreal Capital Management LLC bought a new position in shares of Principal Spectrum Preferred Securities Active ETF during the first quarter valued at about $163,000. NBH Bank purchased a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the second quarter worth about $217,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 160.9% during the third quarter. Pinnacle Bancorp Inc. now owns 20,717 shares of the company’s stock worth $380,000 after purchasing an additional 12,777 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 50.8% during the third quarter. Axxcess Wealth Management LLC now owns 20,757 shares of the company’s stock worth $381,000 after purchasing an additional 6,994 shares during the period.
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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