SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 52-Week Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $30.12 and last traded at $30.15, with a volume of 3236 shares trading hands. The stock had previously closed at $30.28.

SPDR ICE Preferred Securities ETF Stock Performance

The business has a 50 day moving average of $30.54 and a two-hundred day moving average of $31.28.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Equitable Holdings Inc. lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 4.0% in the 3rd quarter. Equitable Holdings Inc. now owns 8,613 shares of the company’s stock worth $285,000 after purchasing an additional 332 shares in the last quarter. NewEdge Advisors LLC increased its stake in SPDR ICE Preferred Securities ETF by 1.4% during the 1st quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock valued at $795,000 after purchasing an additional 359 shares in the last quarter. Wealthspire Retirement LLC increased its stake in SPDR ICE Preferred Securities ETF by 1.0% during the 1st quarter. Wealthspire Retirement LLC now owns 40,453 shares of the company’s stock valued at $1,248,000 after purchasing an additional 405 shares in the last quarter. Comerica Bank raised its holdings in SPDR ICE Preferred Securities ETF by 3.8% during the fourth quarter. Comerica Bank now owns 13,013 shares of the company’s stock worth $412,000 after buying an additional 482 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in SPDR ICE Preferred Securities ETF by 4.5% during the fourth quarter. Private Trust Co. NA now owns 13,270 shares of the company’s stock worth $421,000 after buying an additional 569 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.