Royal Bank of Canada Cuts Holdings in Global X U.S. Preferred ETF $PFFD

Royal Bank of Canada decreased its holdings in Global X U.S. Preferred ETF (NYSEARCA:PFFD) by 20.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 575,448 shares of the company’s stock after selling 147,371 shares during the period. Royal Bank of Canada owned about 0.51% of Global X U.S. Preferred ETF worth $10,589,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Global X U.S. Preferred ETF during the third quarter valued at $30,455,000. Bessemer Group Inc. purchased a new position in Global X U.S. Preferred ETF in the 1st quarter worth about $18,434,000. BNP Paribas Financial Markets lifted its stake in Global X U.S. Preferred ETF by 422.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 735,060 shares of the company’s stock valued at $14,282,000 after acquiring an additional 594,391 shares during the period. Cetera Investment Advisers lifted its stake in Global X U.S. Preferred ETF by 81.4% during the 4th quarter. Cetera Investment Advisers now owns 1,071,447 shares of the company’s stock valued at $20,261,000 after acquiring an additional 480,895 shares during the period. Finally, Carnegie Investment Counsel bought a new position in Global X U.S. Preferred ETF during the 4th quarter valued at about $7,464,000.

Global X U.S. Preferred ETF Stock Up 0.5%

Shares of NYSEARCA PFFD opened at $18.60 on Friday. The firm’s 50-day moving average price is $18.66 and its 200-day moving average price is $18.88. Global X U.S. Preferred ETF has a 52-week low of $18.22 and a 52-week high of $19.89.

Global X U.S. Preferred ETF Profile

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.