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

Shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw an uptick in trading volume on Friday . 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’s 50-day moving average price is $19.08 and its two-hundred day moving average price is $19.01.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Principal Spectrum Preferred Securities Active ETF in the third quarter worth $301,000. NewEdge Advisors LLC increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 88.5% in the 3rd quarter. NewEdge Advisors LLC now owns 299,184 shares of the company’s stock worth $5,726,000 after acquiring an additional 140,502 shares in the last quarter. Mariner LLC lifted its position in Principal Spectrum Preferred Securities Active ETF by 2.0% during the 3rd quarter. Mariner LLC now owns 514,999 shares of the company’s stock valued at $9,857,000 after acquiring an additional 10,242 shares during the period. L2 Asset Management LLC purchased a new position in Principal Spectrum Preferred Securities Active ETF during the 3rd quarter valued at about $5,004,000. Finally, Focus Partners Wealth boosted its stake in Principal Spectrum Preferred Securities Active ETF by 0.7% during the third quarter. Focus Partners Wealth now owns 244,560 shares of the company’s stock worth $4,681,000 after acquiring an additional 1,640 shares in the last quarter.

Principal Spectrum Preferred Securities Active ETF Company Profile

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.