SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw strong trading volume on Friday . 458,375 shares traded hands during trading, an increase of 87% from the previous session’s volume of 244,637 shares.The stock last traded at $33.89 and had previously closed at $33.56.

SPDR ICE Preferred Securities ETF Stock Performance

The firm has a 50 day moving average of $34.14 and a 200-day moving average of $34.51.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its holdings in SPDR ICE Preferred Securities ETF by 10.6% during the 3rd quarter. Park Avenue Securities LLC now owns 368,094 shares of the company’s stock valued at $13,126,000 after buying an additional 35,267 shares in the last quarter. Raymond James & Associates boosted its position in shares of SPDR ICE Preferred Securities ETF by 62.6% during the 3rd quarter. Raymond James & Associates now owns 191,324 shares of the company’s stock valued at $6,823,000 after acquiring an additional 73,689 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of SPDR ICE Preferred Securities ETF by 46.5% in the third quarter. Financial Advocates Investment Management now owns 15,363 shares of the company’s stock valued at $548,000 after purchasing an additional 4,875 shares in the last quarter. SK Wealth Management LLC bought a new stake in SPDR ICE Preferred Securities ETF in the third quarter worth $1,217,000. Finally, Prospera Financial Services Inc raised its stake in SPDR ICE Preferred Securities ETF by 1,293.2% during the third quarter. Prospera Financial Services Inc now owns 87,090 shares of the company’s stock valued at $3,105,000 after purchasing an additional 80,839 shares in the last quarter.

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.