SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 12-Month Low – Here’s Why

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low during trading on Friday . The company traded as low as $32.66 and last traded at $32.67, with a volume of 122051 shares changing hands. The stock had previously closed at $33.05.

SPDR ICE Preferred Securities ETF Stock Down 1.3 %

The firm’s fifty day moving average is $34.00 and its 200 day moving average is $34.50.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Hedge funds have recently made changes to their positions in the stock. Atlas Private Wealth Advisors lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 210.3% during the 3rd quarter. Atlas Private Wealth Advisors now owns 447,166 shares of the company’s stock worth $15,947,000 after acquiring an additional 303,036 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of SPDR ICE Preferred Securities ETF by 133.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 314,732 shares of the company’s stock worth $10,679,000 after buying an additional 179,783 shares during the period. ST Germain D J Co. Inc. boosted its stake in SPDR ICE Preferred Securities ETF by 81.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 233,536 shares of the company’s stock valued at $7,704,000 after buying an additional 104,560 shares in the last quarter. Elevation Capital Advisory LLC acquired a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at $2,931,000. Finally, Prospera Financial Services Inc lifted its holdings in SPDR ICE Preferred Securities ETF by 1,293.2% during the 3rd quarter. Prospera Financial Services Inc now owns 87,090 shares of the company’s stock valued at $3,105,000 after purchasing an additional 80,839 shares during the last quarter.

SPDR ICE Preferred Securities ETF Company Profile

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.