Preheat oven to 275 degrees
Place popcorn in large greased bowl.
Melt butter in small pan over low heat. Stir in sugar and preserves until melted. Drizzle over popcorn, then stir to coat evenly.
Spread popcorn mixture on greased roasting pan. Bake for 10 minutes, stirring every 2 to 3 minutes.
Remove from oven and cool completely before serving.