Cornerstone Advisors Asset Management LLC Acquires 28,579 Shares of Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF)

Cornerstone Advisors Asset Management LLC increased its holdings in Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,319 shares of the company’s stock after buying an additional 28,579 shares during the period. Principal Spectrum Preferred Securities Active ETF accounts for 1.8% of Cornerstone Advisors Asset Management LLC’s holdings, making the stock its 14th largest position. Cornerstone Advisors Asset Management LLC’s holdings in Principal Spectrum Preferred Securities Active ETF were worth $8,343,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Benjamin Edwards Inc. raised its holdings in Principal Spectrum Preferred Securities Active ETF by 787.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 744,305 shares of the company’s stock valued at $14,000,000 after acquiring an additional 660,443 shares in the last quarter. Bensler LLC bought a new position in shares of Principal Spectrum Preferred Securities Active ETF in the fourth quarter worth $8,120,000. Legacy Bridge LLC acquired a new position in Principal Spectrum Preferred Securities Active ETF in the third quarter valued at about $2,491,000. Ibex Wealth Advisors bought a new stake in Principal Spectrum Preferred Securities Active ETF during the fourth quarter worth about $1,864,000. Finally, Raymond James & Associates grew its stake in Principal Spectrum Preferred Securities Active ETF by 10.1% during the third 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 in the last quarter.

Principal Spectrum Preferred Securities Active ETF Price Performance

PREF stock opened at $18.75 on Wednesday. The company’s 50-day moving average price is $18.68 and its two-hundred day moving average price is $18.65. Principal Spectrum Preferred Securities Active ETF has a 12 month low of $17.74 and a 12 month high of $18.87.

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.