VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 12-Month High – Should You Buy?

Shares of VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) reached a new 52-week high during trading on Wednesday . The stock traded as high as $18.57 and last traded at $18.4850, with a volume of 102244 shares. The stock had previously closed at $18.44.

VanEck Preferred Securities ex Financials ETF Stock Performance

The firm has a fifty day simple moving average of $18.18 and a 200 day simple moving average of $17.89. The company has a market capitalization of $2.18 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 disclosed a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were given a $0.0485 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a yield of 3.1%.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC increased its position in VanEck Preferred Securities ex Financials ETF by 97.2% in the 2nd quarter. Simplex Trading LLC now owns 1,597 shares of the company’s stock valued at $27,000 after acquiring an additional 787 shares during the period. Allworth Financial LP bought a new stake in VanEck Preferred Securities ex Financials ETF during the second quarter worth approximately $29,000. Root Financial Partners LLC acquired a new position in VanEck Preferred Securities ex Financials ETF in the third quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in shares of VanEck Preferred Securities ex Financials ETF in the fourth quarter valued at $38,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of VanEck Preferred Securities ex Financials ETF during the 4th quarter valued at $50,000.

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.