Global X U.S. Preferred ETF (NYSEARCA:PFFD) Reaches New 52-Week Low – Should You Sell?

Global X U.S. Preferred ETF (NYSEARCA:PFFD)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $17.31 and last traded at $17.47, with a volume of 1,295,376 shares changing hands. The stock had previously closed at $17.36.

Global X U.S. Preferred ETF Price Performance

The stock’s 50-day moving average is $18.11 and its two-hundred day moving average is $18.52.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Columbus Macro LLC grew its holdings in shares of Global X U.S. Preferred ETF by 22.3% in the first quarter. Columbus Macro LLC now owns 919,406 shares of the company’s stock worth $16,917,000 after purchasing an additional 167,907 shares during the last quarter. Bessemer Group Inc. purchased a new position in Global X U.S. Preferred ETF in the 1st quarter worth about $18,434,000. Webster Bank N. A. lifted its holdings in Global X U.S. Preferred ETF by 3,294.3% during the 1st quarter. Webster Bank N. A. now owns 29,870 shares of the company’s stock valued at $550,000 after buying an additional 28,990 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Global X U.S. Preferred ETF by 12.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,522,498 shares of the company’s stock valued at $47,145,000 after buying an additional 272,858 shares in the last quarter. Finally, Ocean Park Asset Management LLC purchased a new stake in Global X U.S. Preferred ETF in the 2nd quarter valued at about $11,312,000.

About Global X U.S. Preferred ETF

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.