SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 1-Year Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low on Monday . The company traded as low as $29.77 and last traded at $29.78, with a volume of 44032 shares. The stock had previously closed at $29.84.

SPDR ICE Preferred Securities ETF Price Performance

The firm has a fifty day moving average of $30.35 and a 200-day moving average of $31.10.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Large investors have recently modified their holdings of the stock. Equitable Holdings Inc. raised its position in shares of SPDR ICE Preferred Securities ETF by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 8,613 shares of the company’s stock worth $285,000 after buying an additional 332 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 1.4% in the first quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock valued at $795,000 after acquiring an additional 359 shares in the last quarter. Wealthspire Retirement LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 1.0% in the first quarter. Wealthspire Retirement LLC now owns 40,453 shares of the company’s stock valued at $1,248,000 after acquiring an additional 405 shares in the last quarter. Comerica Bank increased its stake in shares of SPDR ICE Preferred Securities ETF by 3.8% during the fourth quarter. Comerica Bank now owns 13,013 shares of the company’s stock valued at $412,000 after acquiring an additional 482 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of SPDR ICE Preferred Securities ETF by 1,001.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 771 shares of the company’s stock valued at $25,000 after acquiring an additional 701 shares during the period.

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.