Preheat oven to 425°. Sprinkle beef with 3/4 teaspoon salt and 1/2 teaspoon black pepper. Melt 1 tablespoon butter in a large skillet over medium-high heat. Add beef; cook 2 minutes on each side or until browned. Transfer beef to a jelly-roll pan coated with cooking spray. Bake at 425° for 25 minutes or until a thermometer registers 135° or desired degree of doneness. Remove beef from oven; let stand 10 minutes. Return skillet to medium heat. Add shallots; cook 3 minutes or until shallots are translucent, stirring occasionally. Add 1 teaspoon black pepper, 1/4 teaspoon salt, vinegar, and preserves. Bring to a boil, scraping pan to loosen browned bits. Reduce heat to low, and simmer 6 minutes or until sauce slightly thickens. Stir in remaining 2 tablespoons butter. Serve sauce with beef.
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