SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Friday. Approximately 379,686 shares traded hands during trading, an increase of 241% from the previous session’s volume of 111,309 shares. The stock last traded at $28.44 and had previously closed at $28.36.

SPDR ICE Preferred Securities ETF Stock Performance

The business has a fifty day moving average of $29.11 and a 200 day moving average of $30.23.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PSK. Integrated Wealth Concepts LLC purchased a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter worth about $3,677,000. Cetera Investment Advisers increased its position in shares of SPDR ICE Preferred Securities ETF by 90.6% during the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock valued at $6,623,000 after buying an additional 102,077 shares during the period. Ameritas Advisory Services LLC increased its position in shares of SPDR ICE Preferred Securities ETF by 99.8% during the second quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock valued at $3,746,000 after buying an additional 61,286 shares during the period. Bank of America Corp DE increased its position in shares of SPDR ICE Preferred Securities ETF by 14.4% during the first quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock valued at $8,001,000 after buying an additional 32,597 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position 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 valued at $1,455,000 after buying an additional 28,533 shares during the period.

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.