VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Sets New 1-Year High – Still a Buy?

Shares of VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) hit a new 52-week high during trading on Wednesday . The company traded as high as $18.55 and last traded at $18.5540, with a volume of 46766 shares traded. The stock had previously closed at $18.50.

VanEck Preferred Securities ex Financials ETF Price Performance

The stock’s 50-day moving average price is $18.16 and its 200 day moving average price is $17.87. The firm has a market capitalization of $2.17 billion, a PE ratio of 0.59 and a beta of 0.60.

VanEck Preferred Securities ex Financials ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Stockholders of record on Monday, February 2nd were given a dividend of $0.0485 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%.

Institutional Trading of VanEck Preferred Securities ex Financials ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Larch Capital Partners LLC purchased a new stake in VanEck Preferred Securities ex Financials ETF during the fourth quarter valued at approximately $2,952,000. Wealth Intelligence LLC purchased a new position in VanEck Preferred Securities ex Financials ETF during the 4th quarter worth $11,006,000. NewEdge Advisors LLC increased its position in VanEck Preferred Securities ex Financials ETF by 3.6% during the 4th quarter. NewEdge Advisors LLC now owns 53,921 shares of the company’s stock valued at $952,000 after buying an additional 1,877 shares in the last quarter. Hyposwiss Advisors SA purchased a new stake in VanEck Preferred Securities ex Financials ETF in the fourth quarter valued at about $931,000. Finally, Guggenheim Capital LLC raised its stake in VanEck Preferred Securities ex Financials ETF by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 98,496 shares of the company’s stock valued at $1,739,000 after buying an additional 6,457 shares during the last quarter.

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.