SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 12-Month Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $29.32 and last traded at $29.3530, with a volume of 76703 shares changing hands. The stock had previously closed at $29.35.

SPDR ICE Preferred Securities ETF Trading Down 0.4%

The business’s fifty day moving average price is $30.01 and its 200 day moving average price is $30.80.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently made changes to their positions in PSK. Jones Financial Companies Lllp grew its stake in SPDR ICE Preferred Securities ETF by 274.9% during the first quarter. Jones Financial Companies Lllp now owns 32,800 shares of the company’s stock worth $987,000 after buying an additional 24,052 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at $143,000. Betterment LLC raised its position in shares of SPDR ICE Preferred Securities ETF by 3.2% during the second quarter. Betterment LLC now owns 24,739 shares of the company’s stock worth $786,000 after acquiring an additional 773 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of SPDR ICE Preferred Securities ETF by 7.5% during the second quarter. Raymond James Financial Inc. now owns 305,707 shares of the company’s stock valued at $9,709,000 after acquiring an additional 21,450 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in SPDR ICE Preferred Securities ETF by 8.3% in the second quarter. Ameriprise Financial Inc. now owns 84,149 shares of the company’s stock valued at $2,673,000 after acquiring an additional 6,463 shares during the last quarter.

SPDR ICE Preferred Securities ETF Company Profile

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.