SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – Should You Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw an uptick in trading volume on Friday . Approximately 81,420 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 99,269 shares.The stock last traded at $29.66 and had previously closed at $29.72.

SPDR ICE Preferred Securities ETF Trading Down 0.2%

The stock’s 50-day moving average price is $30.32 and its 200 day moving average price is $31.06.

Institutional Trading of SPDR ICE Preferred Securities ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSK. UBS Group AG lifted its holdings in SPDR ICE Preferred Securities ETF by 142.9% during the 4th quarter. UBS Group AG now owns 650,656 shares of the company’s stock valued at $20,619,000 after purchasing an additional 382,777 shares during the last quarter. RFG Advisory LLC bought a new position in SPDR ICE Preferred Securities ETF in the 4th quarter valued at $988,000. Rockefeller Capital Management L.P. increased its stake in shares of SPDR ICE Preferred Securities ETF by 164.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 45,908 shares of the company’s stock valued at $1,455,000 after buying an additional 28,533 shares during the period. Cetera Investment Advisers increased its position in SPDR ICE Preferred Securities ETF by 90.6% in the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after purchasing an additional 102,077 shares during the period. Finally, Ameritas Advisory Services LLC raised its stake in shares of SPDR ICE Preferred Securities ETF by 63,308.4% during the fourth quarter. Ameritas Advisory Services LLC now owns 60,238 shares of the company’s stock worth $1,909,000 after buying an additional 60,143 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.