Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Strong Trading Volume – Here’s Why

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) shares saw unusually-strong trading volume on Friday . Approximately 157,346 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 241,279 shares.The stock last traded at $19.1450 and had previously closed at $19.15.

Principal Spectrum Preferred Securities Active ETF Stock Performance

The stock has a 50 day simple moving average of $19.08 and a two-hundred day simple moving average of $19.01.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently modified their holdings of PREF. Kestra Advisory Services LLC raised its stake in Principal Spectrum Preferred Securities Active ETF by 196.0% during the first quarter. Kestra Advisory Services LLC now owns 161,797 shares of the company’s stock worth $3,026,000 after purchasing an additional 107,128 shares during the period. Comerica Bank raised its position in shares of Principal Spectrum Preferred Securities Active ETF by 12.6% during the 1st quarter. Comerica Bank now owns 84,864 shares of the company’s stock valued at $1,587,000 after buying an additional 9,502 shares during the period. Royal Bank of Canada raised its position in shares of Principal Spectrum Preferred Securities Active ETF by 5.5% during the 1st quarter. Royal Bank of Canada now owns 3,094,950 shares of the company’s stock valued at $57,876,000 after buying an additional 160,750 shares during the period. NewEdge Advisors LLC lifted its holdings in Principal Spectrum Preferred Securities Active ETF by 9.1% in the first quarter. NewEdge Advisors LLC now owns 151,736 shares of the company’s stock valued at $2,837,000 after acquiring an additional 12,657 shares during the last quarter. Finally, Permanens Capital L.P. purchased a new position in Principal Spectrum Preferred Securities Active ETF in the first quarter worth approximately $25,823,000.

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.