Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Increases By 240.5%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 350,686 shares, a growth of 240.5% from the April 15th total of 102,987 shares. Based on an average daily trading volume, of 209,213 shares, the short-interest ratio is presently 1.7 days. Currently, 0.5% of the shares of the company are sold short.

Principal Spectrum Preferred Securities Active ETF Price Performance

Shares of PREF traded down $0.07 during mid-day trading on Friday, hitting $18.93. 187,329 shares of the company’s stock were exchanged, compared to its average volume of 263,174. Principal Spectrum Preferred Securities Active ETF has a fifty-two week low of $18.63 and a fifty-two week high of $19.32. The business’s 50 day moving average is $18.96 and its two-hundred day moving average is $19.06.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Hedge funds have recently made changes to their positions in the business. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth about $29,000. Rothschild Investment LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $29,000. Flagship Harbor Advisors LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $36,000. Steward Partners Investment Advisory LLC lifted its position in Principal Spectrum Preferred Securities Active ETF by 126.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,035 shares of the company’s stock valued at $58,000 after purchasing an additional 1,695 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $77,000.

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.