Short Interest in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Grows By 116.7%

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 131,915 shares, a growth of 116.7% from the May 31st total of 60,865 shares. Based on an average daily trading volume, of 215,188 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PREF. Ameriprise Financial Inc. acquired a new stake in Principal Spectrum Preferred Securities Active ETF in the 3rd quarter valued at about $20,659,000. Bank of America Corp DE increased its position in Principal Spectrum Preferred Securities Active ETF by 10.8% during the second 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 during the last quarter. Wells Fargo & Company MN raised its stake in Principal Spectrum Preferred Securities Active ETF by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,952,097 shares of the company’s stock valued at $75,366,000 after buying an additional 359,536 shares during the period. LPL Financial LLC raised its stake in Principal Spectrum Preferred Securities Active ETF by 11.3% in the fourth quarter. LPL Financial LLC now owns 3,030,604 shares of the company’s stock valued at $57,794,000 after buying an additional 308,735 shares during the period. Finally, Morgan Stanley lifted its position in shares of Principal Spectrum Preferred Securities Active ETF by 4.1% in the fourth quarter. Morgan Stanley now owns 6,865,997 shares of the company’s stock valued at $130,935,000 after buying an additional 271,606 shares during the last quarter.

Principal Spectrum Preferred Securities Active ETF Stock Performance

Shares of PREF opened at $18.98 on Thursday. The company’s fifty day simple moving average is $19.00 and its 200 day simple moving average is $19.04. Principal Spectrum Preferred Securities Active ETF has a 1-year low of $18.64 and a 1-year high of $19.32.

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.