SNS Financial Group LLC Lowers Stake in SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

SNS Financial Group LLC lowered its position in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 31,962 shares of the company’s stock after selling 1,345 shares during the period. SNS Financial Group LLC’s holdings in SPDR Wells Fargo Preferred Stock ETF were worth $1,381,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in SPDR Wells Fargo Preferred Stock ETF during the first quarter valued at approximately $53,000. Stonehearth Capital Management LLC lifted its holdings in SPDR Wells Fargo Preferred Stock ETF by 10.6% during the first quarter. Stonehearth Capital Management LLC now owns 28,730 shares of the company’s stock valued at $1,226,000 after purchasing an additional 2,760 shares in the last quarter. Synovus Financial Corp lifted its holdings in SPDR Wells Fargo Preferred Stock ETF by 17.3% during the first quarter. Synovus Financial Corp now owns 35,679 shares of the company’s stock valued at $1,522,000 after purchasing an additional 5,263 shares in the last quarter. Lido Advisors LLC purchased a new position in SPDR Wells Fargo Preferred Stock ETF during the first quarter valued at approximately $1,046,000. Finally, CWM LLC lifted its holdings in SPDR Wells Fargo Preferred Stock ETF by 22.5% during the first quarter. CWM LLC now owns 267,547 shares of the company’s stock valued at $11,419,000 after purchasing an additional 49,176 shares in the last quarter.

Several research firms have recently issued reports on PSK. GMP Securities reiterated a “buy” rating and set a $22.00 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Wednesday, July 24th. Raymond James reiterated an “average” rating and set a $20.50 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, May 24th.

Shares of SPDR Wells Fargo Preferred Stock ETF stock traded down $0.10 on Wednesday, hitting $43.36. 41,529 shares of the company traded hands, compared to its average volume of 139,626. SPDR Wells Fargo Preferred Stock ETF has a 52 week low of $38.53 and a 52 week high of $43.95. The company’s 50-day moving average price is $43.43.

SPDR Wells Fargo Preferred Stock ETF 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.

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Institutional Ownership by Quarter for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

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