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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares hit a new 52-week low during trading on Thursday. The company traded as low as $27.64 and last traded at $27.6260, with a volume of 16,373 shares. The stock had previously closed at $27.91.

SPDR ICE Preferred Securities ETF Trading Down 0.6%

The firm has a fifty day moving average of $28.44 and a 200 day moving average of $30.38.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PSK. NewEdge Advisors LLC increased its holdings in shares of SPDR ICE Preferred Securities ETF by 1.4% during the 1st quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock valued at $795,000 after purchasing an additional 359 shares in the last quarter. Wealthspire Retirement LLC boosted its holdings in SPDR ICE Preferred Securities ETF by 1.0% during the first quarter. Wealthspire Retirement LLC now owns 40,453 shares of the company’s stock worth $1,248,000 after buying an additional 405 shares in the last quarter. Triumph Capital Management grew its position in SPDR ICE Preferred Securities ETF by 75.5% during the third quarter. Triumph Capital Management now owns 1,127 shares of the company’s stock valued at $32,000 after buying an additional 485 shares during the period. Financial Insights Inc. grew its position in SPDR ICE Preferred Securities ETF by 1.5% during the third quarter. Financial Insights Inc. now owns 35,356 shares of the company’s stock valued at $1,002,000 after buying an additional 511 shares during the period. Finally, XML Financial LLC grew its position in SPDR ICE Preferred Securities ETF by 2.1% during the third quarter. XML Financial LLC now owns 27,513 shares of the company’s stock valued at $780,000 after buying an additional 574 shares during the period.

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.