Global X U.S. Preferred ETF (NYSEARCA:PFFD) Sets New 52-Week Low – What’s Next?

Global X U.S. Preferred ETF (NYSEARCA:PFFD)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.05 and last traded at $18.0390, with a volume of 84638 shares trading hands. The stock had previously closed at $18.17.

Global X U.S. Preferred ETF Stock Performance

The company’s 50 day moving average is $18.47 and its 200-day moving average is $18.70.

Hedge Funds Weigh In On Global X U.S. Preferred ETF

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in Global X U.S. Preferred ETF by 1,157.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 153,598 shares of the company’s stock valued at $2,925,000 after buying an additional 141,386 shares in the last quarter. Cerity Partners LLC acquired a new position in Global X U.S. Preferred ETF during the 2nd quarter worth approximately $193,000. Qube Research & Technologies Ltd boosted its holdings in Global X U.S. Preferred ETF by 40.5% in the second quarter. Qube Research & Technologies Ltd now owns 8,371 shares of the company’s stock worth $158,000 after acquiring an additional 2,415 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Global X U.S. Preferred ETF by 9.3% in the second quarter. NewEdge Advisors LLC now owns 90,238 shares of the company’s stock worth $1,699,000 after acquiring an additional 7,671 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Global X U.S. Preferred ETF by 31.7% in the second quarter. Sei Investments Co. now owns 764,477 shares of the company’s stock valued at $14,395,000 after acquiring an additional 183,876 shares during the period.

About Global X U.S. Preferred ETF

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.