Independent Advisor Alliance Invests $434,000 in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)

Independent Advisor Alliance purchased a new position in shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,335 shares of the company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PREF. US Bancorp DE acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the third quarter worth about $30,000. Principal Financial Group Inc. increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 13.6% during the third quarter. Principal Financial Group Inc. now owns 111,581 shares of the company’s stock worth $2,099,000 after acquiring an additional 13,338 shares during the period. Legacy Bridge LLC acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the third quarter worth about $2,491,000. Flagstar Advisors Inc. increased its stake in shares of Principal Spectrum Preferred Securities Active ETF by 30.8% during the third quarter. Flagstar Advisors Inc. now owns 68,554 shares of the company’s stock worth $1,290,000 after acquiring an additional 16,157 shares during the period. Finally, Financial Counselors Inc. acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF during the third quarter worth about $223,000.

Principal Spectrum Preferred Securities Active ETF Trading Up 0.1 %

Shares of Principal Spectrum Preferred Securities Active ETF stock opened at $18.66 on Tuesday. Principal Spectrum Preferred Securities Active ETF has a 52-week low of $17.81 and a 52-week high of $18.87. The company’s 50-day simple moving average is $18.69 and its 200-day simple moving average is $18.69.

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.