Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Strong Trading Volume – Should You Buy?

Shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw unusually-strong trading volume on Tuesday . Approximately 385,805 shares traded hands during mid-day 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 simple moving average of $18.72 and a 200 day simple moving average of $18.53.

Hedge Funds Weigh In On Principal Spectrum Preferred Securities Active ETF

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates grew its position in shares of Principal Spectrum Preferred Securities Active ETF by 10.1% in the 3rd quarter. Raymond James & Associates now owns 1,079,117 shares of the company’s stock worth $20,298,000 after buying an additional 98,816 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 787.5% in the third quarter. Benjamin Edwards Inc. now owns 744,305 shares of the company’s stock worth $14,000,000 after buying an additional 660,443 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of Principal Spectrum Preferred Securities Active ETF by 1.1% in the second quarter. Cornerstone Wealth Group LLC now owns 702,701 shares of the company’s stock worth $12,803,000 after buying an additional 7,799 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 during the last quarter. Finally, Tyche Wealth Partners LLC increased its position in shares of Principal Spectrum Preferred Securities Active ETF by 2.7% during the third quarter. Tyche Wealth Partners LLC now owns 603,898 shares of the company’s stock valued at $11,359,000 after acquiring an additional 16,035 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.