SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Large Volume Increase – Time to Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Friday . Approximately 458,375 shares changed hands during trading, an increase of 87% from the previous session’s volume of 244,637 shares.The stock last traded at $33.89 and had previously closed at $33.56.

SPDR ICE Preferred Securities ETF Stock Performance

The firm’s fifty day moving average price is $34.17 and its 200 day moving average price is $34.51.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors have recently bought and sold shares of the stock. Crestwood Advisors Group LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 22,821 shares of the company’s stock worth $814,000 after buying an additional 417 shares during the period. Larson Financial Group LLC bought a new stake in SPDR ICE Preferred Securities ETF during the third quarter valued at about $31,000. JPMorgan Chase & Co. grew its position in shares of SPDR ICE Preferred Securities ETF by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 64,122 shares of the company’s stock valued at $2,287,000 after purchasing an additional 882 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of SPDR ICE Preferred Securities ETF by 1.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 124,411 shares of the company’s stock worth $4,221,000 after purchasing an additional 1,367 shares during the period. Finally, Hilton Capital Management LLC lifted its position in shares of SPDR ICE Preferred Securities ETF by 20.3% during the 3rd quarter. Hilton Capital Management LLC now owns 10,275 shares of the company’s stock worth $366,000 after purchasing an additional 1,735 shares during the last quarter.

About SPDR ICE Preferred Securities ETF

SPDR Wells Fargo Preferred Stock ETF (the Fund) seeks to replicate the total return of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the Index). The Index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock, including, but not limited to, depositary preferred securities, perpetual subordinated debt and certain securities issued by banks and other financial institutions that are eligible for capital treatment with respect to such instruments akin to that received for issuance of straight preferred stock.