Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Unusually-High Trading Volume – What’s Next?

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw strong trading volume on Friday . 1,433,450 shares changed hands during trading, an increase of 549% from the previous session’s volume of 221,024 shares.The stock last traded at $18.72 and had previously closed at $18.76.

Principal Spectrum Preferred Securities Active ETF Trading Down 0.2 %

The company’s fifty day simple moving average is $18.70 and its 200 day simple moving average is $18.69.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 11.3% during the fourth quarter. Bank of America Corp DE now owns 8,900,444 shares of the company’s stock valued at $165,637,000 after buying an additional 901,584 shares during the period. Royal Bank of Canada increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 68.4% during the fourth quarter. Royal Bank of Canada now owns 2,934,200 shares of the company’s stock valued at $54,606,000 after buying an additional 1,192,126 shares during the period. LPL Financial LLC increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 8.4% in the fourth quarter. LPL Financial LLC now owns 1,797,114 shares of the company’s stock worth $33,444,000 after purchasing an additional 139,763 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Principal Spectrum Preferred Securities Active ETF in the fourth quarter worth approximately $32,756,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 2.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,172,413 shares of the company’s stock worth $21,819,000 after purchasing an additional 29,355 shares during 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.