SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – Still a Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw strong trading volume on Wednesday . 113,285 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 100,883 shares.The stock last traded at $29.0760 and had previously closed at $28.93.

SPDR ICE Preferred Securities ETF Trading Up 0.6%

The business has a fifty day moving average price of $29.89 and a two-hundred day moving average price of $30.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $3,677,000. NewEdge Advisors LLC increased its position in SPDR ICE Preferred Securities ETF by 2.5% in the 2nd quarter. NewEdge Advisors LLC now owns 26,441 shares of the company’s stock worth $807,000 after purchasing an additional 651 shares during the last quarter. Financial Insights Inc. increased its position in SPDR ICE Preferred Securities ETF by 8.6% in the 2nd quarter. Financial Insights Inc. now owns 34,845 shares of the company’s stock worth $1,064,000 after purchasing an additional 2,750 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in shares of SPDR ICE Preferred Securities ETF by 99.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock worth $3,746,000 after purchasing an additional 61,286 shares in the last quarter. Finally, Clarus Wealth Advisors purchased a new stake in shares of SPDR ICE Preferred Securities ETF during the 2nd quarter worth about $732,000.

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.