Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Strong Trading Volume

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) shares saw unusually-strong trading volume on Tuesday . Approximately 1,187,010 shares were traded during mid-day trading, an increase of 440% from the previous session’s volume of 219,654 shares.The stock last traded at $18.77 and had previously closed at $18.81.

Principal Spectrum Preferred Securities Active ETF Stock Performance

The company has a fifty day simple moving average of $18.50 and a 200-day simple moving average of $18.27.

Institutional Trading of Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Principal Spectrum Preferred Securities Active ETF during the second quarter valued at about $536,000. NewEdge Advisors LLC lifted its stake in Principal Spectrum Preferred Securities Active ETF by 4.1% during the second quarter. NewEdge Advisors LLC now owns 95,013 shares of the company’s stock valued at $1,731,000 after buying an additional 3,773 shares in the last quarter. Delta Investment Management LLC lifted its stake in Principal Spectrum Preferred Securities Active ETF by 2.1% during the second quarter. Delta Investment Management LLC now owns 60,837 shares of the company’s stock valued at $1,108,000 after buying an additional 1,266 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Principal Spectrum Preferred Securities Active ETF by 0.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 635,807 shares of the company’s stock valued at $11,584,000 after buying an additional 2,457 shares in the last quarter. Finally, Argent Trust Co lifted its stake in Principal Spectrum Preferred Securities Active ETF by 1.9% during the second quarter. Argent Trust Co now owns 52,102 shares of the company’s stock valued at $949,000 after buying an additional 987 shares in the last quarter.

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.