Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Large Volume Increase – Still a Buy?

Shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw unusually-strong trading volume on Tuesday . Approximately 385,805 shares were traded during trading, an increase of 79% from the previous session’s volume of 215,920 shares.The stock last traded at $18.74 and had previously closed at $18.76.

Principal Spectrum Preferred Securities Active ETF Price Performance

The stock has a 50 day moving average price of $18.72 and a two-hundred day moving average price of $18.52.

Institutional Trading of Principal Spectrum Preferred Securities Active ETF

A number of hedge funds have recently modified their holdings of PREF. US Bancorp DE acquired a new position in Principal Spectrum Preferred Securities Active ETF during the third quarter valued at approximately $30,000. Pinnacle Bancorp Inc. boosted its position in shares of Principal Spectrum Preferred Securities Active ETF by 46.4% during the third quarter. Pinnacle Bancorp Inc. now owns 4,120 shares of the company’s stock worth $77,000 after purchasing an additional 1,305 shares in the last quarter. Financial Counselors Inc. acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 3rd quarter valued at $223,000. Alpha Financial Partners LLC bought a new stake in shares of Principal Spectrum Preferred Securities Active ETF in the 3rd quarter valued at $257,000. Finally, LexAurum Advisors LLC increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 42.1% in the 3rd quarter. LexAurum Advisors LLC now owns 17,093 shares of the company’s stock valued at $322,000 after buying an additional 5,063 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.