Principal Spectrum Preferred Securities Active ETF $PREF Position Cut by AXS Investments LLC

AXS Investments LLC reduced its holdings in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 40.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,183 shares of the company’s stock after selling 49,920 shares during the quarter. AXS Investments LLC owned 0.09% of Principal Spectrum Preferred Securities Active ETF worth $1,377,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the third quarter valued at about $20,659,000. Bank of America Corp DE raised its position in shares of Principal Spectrum Preferred Securities Active ETF by 10.8% during the 2nd quarter. Bank of America Corp DE now owns 10,222,023 shares of the company’s stock worth $193,912,000 after buying an additional 992,700 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock worth $75,366,000 after acquiring an additional 359,536 shares during the period. LPL Financial LLC lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% in the 4th quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock worth $57,794,000 after acquiring an additional 308,735 shares during the period. Finally, Morgan Stanley lifted its stake 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 worth $130,935,000 after acquiring an additional 271,606 shares during the period.

Principal Spectrum Preferred Securities Active ETF Trading Up 0.1%

Principal Spectrum Preferred Securities Active ETF stock opened at $18.96 on Friday. Principal Spectrum Preferred Securities Active ETF has a 12-month low of $18.64 and a 12-month high of $19.32. The firm has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $19.03.

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.