SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Large Increase in Short Interest

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 70,723 shares, an increase of 1,127.6% from the May 31st total of 5,761 shares. Based on an average daily volume of 69,884 shares, the short-interest ratio is presently 1.0 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Trading of SPDR ICE Preferred Securities ETF

A number of hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its holdings in SPDR ICE Preferred Securities ETF by 1,001.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 771 shares of the company’s stock worth $25,000 after acquiring an additional 701 shares during the period. City Holding Co. acquired a new position in SPDR ICE Preferred Securities ETF in the fourth quarter valued at approximately $37,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in SPDR ICE Preferred Securities ETF by 287.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,789 shares of the company’s stock worth $57,000 after purchasing an additional 1,327 shares in the last quarter. IFP Advisors Inc boosted its position in SPDR ICE Preferred Securities ETF by 568.7% in the 4th quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock worth $83,000 after purchasing an additional 2,218 shares in the last quarter. Finally, WFA of San Diego LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $84,000.

SPDR ICE Preferred Securities ETF Stock Down 0.4%

NYSEARCA:PSK opened at $30.42 on Friday. SPDR ICE Preferred Securities ETF has a one year low of $30.38 and a one year high of $33.77. The firm’s fifty day moving average is $31.07 and its two-hundred day moving average is $31.57.

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.