VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 1-Year Low – Should You Sell?

Shares of VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) hit a new 52-week low on Thursday. The company traded as low as $17.00 and last traded at $17.17, with a volume of 3,196 shares trading hands. The stock had previously closed at $17.23.

VanEck Preferred Securities ex Financials ETF Stock Performance

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 0.59 and a beta of 0.64. The firm’s 50 day simple moving average is $17.81 and its 200 day simple moving average is $18.02.

Institutional Trading of VanEck Preferred Securities ex Financials ETF

Several institutional investors have recently modified their holdings of PFXF. Bank of America Corp DE increased its position in shares of VanEck Preferred Securities ex Financials ETF by 15.2% during the first quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock worth $93,860,000 after acquiring an additional 705,474 shares during the period. Tanager Wealth Management LLP lifted its stake in VanEck Preferred Securities ex Financials ETF by 9.6% in the first quarter. Tanager Wealth Management LLP now owns 1,587,632 shares of the company’s stock worth $27,847,000 after acquiring an additional 138,544 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of VanEck Preferred Securities ex Financials ETF by 9.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 725,100 shares of the company’s stock valued at $12,936,000 after purchasing an additional 65,009 shares during the last quarter. Royal Bank of Canada lifted its position in shares of VanEck Preferred Securities ex Financials ETF by 47.5% during the 1st quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock worth $8,491,000 after purchasing an additional 155,882 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its stake in shares of VanEck Preferred Securities ex Financials ETF by 5.7% during the first quarter. Carmel Capital Partners LLC now owns 394,621 shares of the company’s stock worth $6,922,000 after purchasing an additional 21,373 shares in the last quarter.

VanEck Preferred Securities ex Financials ETF Company Profile

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.