Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Short Interest Down 39.0% in June

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 80,451 shares, a drop of 39.0% from the June 15th total of 131,915 shares. Based on an average trading volume of 230,249 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

Principal Spectrum Preferred Securities Active ETF Stock Performance

NYSEARCA PREF opened at $18.96 on Friday. Principal Spectrum Preferred Securities Active ETF has a 52 week low of $18.64 and a 52 week high of $19.32. The firm has a 50 day moving average of $18.98 and a two-hundred day moving average of $19.03.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Several institutional investors have recently modified their holdings of PREF. Ameriprise Financial Inc. acquired a new position in Principal Spectrum Preferred Securities Active ETF in the third quarter valued at approximately $20,659,000. Bank of America Corp DE raised its holdings in Principal Spectrum Preferred Securities Active ETF by 10.8% during the second quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock worth $193,912,000 after purchasing an additional 992,700 shares in the last quarter. Wells Fargo & Company MN lifted its position 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 worth $75,366,000 after buying an additional 359,536 shares during the last quarter. LPL Financial LLC lifted its position in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% during the 4th quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock worth $57,794,000 after buying an additional 308,735 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% in 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 in the last quarter.

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.