VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 52-Week High – Here’s Why

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) shares hit a new 52-week high on Thursday . The stock traded as high as $18.60 and last traded at $18.58, with a volume of 209421 shares trading hands. The stock had previously closed at $18.52.

VanEck Preferred Securities ex Financials ETF Price Performance

The company’s 50-day moving average is $18.02 and its 200-day moving average is $17.93. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 0.59 and a beta of 0.61.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in VanEck Preferred Securities ex Financials ETF by 36.7% during the third quarter. Bank of America Corp DE now owns 4,140,671 shares of the company’s stock worth $73,580,000 after buying an additional 1,111,754 shares during the period. LPL Financial LLC boosted its position in shares of VanEck Preferred Securities ex Financials ETF by 8.5% in the fourth quarter. LPL Financial LLC now owns 2,961,370 shares of the company’s stock worth $52,298,000 after buying an additional 232,745 shares during the period. Raymond James Financial Inc. raised its holdings in shares of VanEck Preferred Securities ex Financials ETF by 3.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,763,760 shares of the company’s stock valued at $31,342,000 after buying an additional 59,762 shares during the period. Tanager Wealth Management LLP boosted its holdings in VanEck Preferred Securities ex Financials ETF by 9.6% in the 1st 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 period. Finally, MML Investors Services LLC grew its position in VanEck Preferred Securities ex Financials ETF by 6.7% in the fourth quarter. MML Investors Services LLC now owns 1,471,878 shares of the company’s stock valued at $25,993,000 after acquiring an additional 92,611 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.