Prudential Financial Inc. Has $1.06 Million Position in SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)

Prudential Financial Inc. reduced its stake in SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) by 14.2% during the second quarter, HoldingsChannel reports. The firm owned 24,013 shares of the company’s stock after selling 3,982 shares during the quarter. Prudential Financial Inc.’s holdings in SPDR ICE Preferred Securities ETF were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp grew its position in SPDR ICE Preferred Securities ETF by 23.9% during the 2nd quarter. Investors Research Corp now owns 48,663 shares of the company’s stock worth $2,152,000 after acquiring an additional 9,399 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of SPDR ICE Preferred Securities ETF during the first quarter valued at about $35,000. Tradewinds Capital Management LLC boosted its stake in shares of SPDR ICE Preferred Securities ETF by 12.6% during the second quarter. Tradewinds Capital Management LLC now owns 627,427 shares of the company’s stock valued at $27,745,000 after purchasing an additional 70,427 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 9.9% during the second quarter. HighTower Advisors LLC now owns 11,653 shares of the company’s stock worth $514,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of SPDR ICE Preferred Securities ETF by 194.9% in the second quarter. Royal Bank of Canada now owns 435,875 shares of the company’s stock valued at $19,274,000 after buying an additional 288,065 shares during the period.

NYSEARCA:PSK opened at $42.35 on Thursday. The firm’s 50 day simple moving average is $43.15 and its 200 day simple moving average is $43.51. SPDR ICE Preferred Securities ETF has a one year low of $42.04 and a one year high of $44.44.

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.

See Also: Capital Gains

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Institutional Ownership by Quarter for SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)

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