VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 1-Year Low – Here’s Why

Shares of VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) reached a new 52-week low during trading on Friday. The stock traded as low as $16.21 and last traded at $16.2150, with a volume of 93,452 shares trading hands. The stock had previously closed at $16.38.

VanEck Preferred Securities ex Financials ETF Trading Down 0.9%

The firm has a market capitalization of $2.10 billion, a PE ratio of 0.59 and a beta of 0.65. The business’s 50 day simple moving average is $17.30 and its 200 day simple moving average is $17.91.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PFXF. Bank of America Corp DE grew its position in VanEck Preferred Securities ex Financials ETF by 15.2% in the first quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock worth $93,860,000 after acquiring an additional 705,474 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of VanEck Preferred Securities ex Financials ETF in the 2nd quarter valued at approximately $3,688,000. Royal Bank of Canada lifted its stake in shares of VanEck Preferred Securities ex Financials ETF by 47.5% in the 1st quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock valued at $8,491,000 after purchasing an additional 155,882 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of VanEck Preferred Securities ex Financials ETF by 359.4% in the 3rd quarter. Private Advisor Group LLC now owns 177,336 shares of the company’s stock valued at $3,107,000 after purchasing an additional 138,735 shares during the last quarter. Finally, Texas Yale Capital Corp. boosted its holdings in shares of VanEck Preferred Securities ex Financials ETF by 353.0% in the 3rd quarter. Texas Yale Capital Corp. now owns 166,328 shares of the company’s stock worth $2,914,000 after purchasing an additional 129,614 shares during the period.

VanEck Preferred Securities ex Financials ETF Company Profile

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.