VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Sets New 52-Week High – Time to Buy?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.55 and last traded at $18.4180, with a volume of 1783 shares traded. The stock had previously closed at $18.53.

VanEck Preferred Securities ex Financials ETF Price Performance

The stock has a market capitalization of $2.13 billion, a PE ratio of 0.59 and a beta of 0.60. The stock’s 50 day simple moving average is $17.87 and its two-hundred day simple moving average is $17.78.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of VanEck Preferred Securities ex Financials ETF by 36.7% in the third quarter. Bank of America Corp DE now owns 4,140,671 shares of the company’s stock valued at $73,580,000 after buying an additional 1,111,754 shares during the period. Apella Capital LLC purchased a new stake in VanEck Preferred Securities ex Financials ETF in the 4th quarter worth about $4,496,000. Blair William & Co. IL raised its stake in VanEck Preferred Securities ex Financials ETF by 8,489.4% in the 3rd quarter. Blair William & Co. IL now owns 171,788 shares of the company’s stock valued at $3,053,000 after acquiring an additional 169,788 shares during the period. Tanager Wealth Management LLP raised its stake in VanEck Preferred Securities ex Financials ETF by 12.7% in the 4th quarter. Tanager Wealth Management LLP now owns 1,449,088 shares of the company’s stock valued at $25,591,000 after acquiring an additional 162,742 shares during the period. Finally, Ocean Park Asset Management LLC purchased a new stake in VanEck Preferred Securities ex Financials ETF during the third quarter valued at about $2,475,000.

About VanEck Preferred Securities ex Financials ETF

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.