Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Shares Up 0.1% – Still a Buy?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)’s share price shot up 0.1% on Tuesday . The company traded as high as $19.10 and last traded at $19.09. 234,878 shares changed hands during trading, a decline of 15% from the average session volume of 275,512 shares. The stock had previously closed at $19.08.

Principal Spectrum Preferred Securities Active ETF Trading Up 0.1%

The stock’s 50-day moving average is $19.02 and its two-hundred day moving average is $19.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evelyn Partners Asset Management Ltd bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter valued at approximately $29,000. Rothschild Investment LLC bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter valued at approximately $29,000. Flagship Harbor Advisors LLC bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC lifted its position in Principal Spectrum Preferred Securities Active ETF by 126.5% during 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 bought a new position in Principal Spectrum Preferred Securities Active ETF during the fourth quarter valued at approximately $77,000.

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.