SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 52-Week Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $30.43 and last traded at $30.43, with a volume of 55508 shares trading hands. The stock had previously closed at $30.54.

SPDR ICE Preferred Securities ETF Stock Up 0.2%

The firm’s 50 day simple moving average is $31.04 and its 200 day simple moving average is $31.57.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently made changes to their positions in PSK. UBS Group AG boosted its stake in SPDR ICE Preferred Securities ETF by 142.9% during the fourth quarter. UBS Group AG now owns 650,656 shares of the company’s stock valued at $20,619,000 after buying an additional 382,777 shares during the last quarter. Checchi Capital Advisers LLC bought a new stake in SPDR ICE Preferred Securities ETF in the 4th quarter worth approximately $6,012,000. Zacks Investment Management purchased a new stake in shares of SPDR ICE Preferred Securities ETF during the 4th quarter worth approximately $5,187,000. Cetera Investment Advisers raised its holdings in shares of SPDR ICE Preferred Securities ETF by 90.6% during the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after acquiring an additional 102,077 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its holdings in shares of SPDR ICE Preferred Securities ETF by 63,308.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 60,238 shares of the company’s stock worth $1,909,000 after acquiring an additional 60,143 shares in the last quarter.

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.