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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low during trading on Monday. The stock traded as low as $27.87 and last traded at $27.90, with a volume of 176,255 shares changing hands. The stock had previously closed at $28.03.

SPDR ICE Preferred Securities ETF Stock Performance

The business’s 50-day moving average is $28.83 and its two-hundred day moving average is $30.62.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors have recently made changes to their positions in the stock. Triumph Capital Management raised its position in shares of SPDR ICE Preferred Securities ETF by 75.5% during the 3rd quarter. Triumph Capital Management now owns 1,127 shares of the company’s stock worth $32,000 after purchasing an additional 485 shares during the period. SRH Advisors LLC bought a new position in SPDR ICE Preferred Securities ETF during the 3rd quarter worth $46,000. Sowell Financial Services LLC bought a new position in SPDR ICE Preferred Securities ETF during the 3rd quarter worth $220,000. WealthPoint Financial LLC grew its stake in SPDR ICE Preferred Securities ETF by 28.2% during the 1st quarter. WealthPoint Financial LLC now owns 10,472 shares of the company’s stock worth $323,000 after buying an additional 2,304 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in SPDR ICE Preferred Securities ETF in the first quarter worth $445,000.

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.