Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Trading Down 0.3% – What’s Next?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)’s share price traded down 0.3% on Tuesday . The stock traded as low as $19.09 and last traded at $19.09. 219,596 shares traded hands during trading, a decline of 10% from the average session volume of 242,863 shares. The stock had previously closed at $19.14.

Principal Spectrum Preferred Securities Active ETF Stock Down 0.3%

The company’s 50 day simple moving average is $19.08 and its 200 day simple moving average is $19.01.

Institutional Trading of Principal Spectrum Preferred Securities Active ETF

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Principal Spectrum Preferred Securities Active ETF by 5.1% in the third quarter. Bank of America Corp DE now owns 10,746,893 shares of the company’s stock worth $205,696,000 after acquiring an additional 524,870 shares in the last quarter. UBS Group AG grew its position in shares of Principal Spectrum Preferred Securities Active ETF by 2.3% in the 3rd quarter. UBS Group AG now owns 7,083,973 shares of the company’s stock valued at $135,587,000 after purchasing an additional 162,008 shares during the period. Royal Bank of Canada increased its stake in 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 worth $57,876,000 after purchasing an additional 160,750 shares in the last quarter. IFC Advisors LLC increased its stake in Principal Spectrum Preferred Securities Active ETF by 1.5% during the 2nd quarter. IFC Advisors LLC now owns 2,819,142 shares of the company’s stock worth $53,479,000 after purchasing an additional 41,413 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Principal Spectrum Preferred Securities Active ETF by 9.9% during the 3rd quarter. Raymond James Financial Inc. now owns 1,684,126 shares of the company’s stock worth $32,234,000 after buying an additional 151,485 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.