SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 12-Month Low – Time to Sell?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $27.87 and last traded at $27.90, with a volume of 176,255 shares. The stock had previously closed at $28.03.

SPDR ICE Preferred Securities ETF Price Performance

The business’s fifty day moving average is $28.89 and its two-hundred day moving average is $30.11.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors and hedge funds have recently bought and sold shares of PSK. Rosenberg Matthew Hamilton boosted its stake in shares of SPDR ICE Preferred Securities ETF by 23.3% in the third quarter. Rosenberg Matthew Hamilton now owns 141,339 shares of the company’s stock worth $4,006,000 after buying an additional 26,729 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in SPDR ICE Preferred Securities ETF during the second quarter worth $3,677,000. Ameritas Advisory Services LLC lifted its position in shares of SPDR ICE Preferred Securities ETF by 99.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock worth $3,746,000 after purchasing an additional 61,286 shares during the last quarter. Clarus Wealth Advisors acquired a new stake in SPDR ICE Preferred Securities ETF during the 2nd quarter worth $732,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of SPDR ICE Preferred Securities ETF by 164.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 45,908 shares of the company’s stock worth $1,455,000 after purchasing an additional 28,533 shares during 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.