SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Large Volume Increase – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw strong trading volume on Tuesday. Approximately 322,883 shares traded hands during mid-day trading, an increase of 166% from the average daily volume of 121,198 shares. The stock last traded at $27.8830 and had previously closed at $28.30.

SPDR ICE Preferred Securities ETF Stock Down 1.7%

The stock’s fifty day simple moving average is $28.51 and its 200 day simple moving average is $30.43.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PSK. Envestnet Asset Management Inc. lifted its position in SPDR ICE Preferred Securities ETF by 3.8% during the second quarter. Envestnet Asset Management Inc. now owns 624,490 shares of the company’s stock valued at $19,066,000 after acquiring an additional 22,976 shares during the last quarter. Lido Advisors LLC purchased a new position in SPDR ICE Preferred Securities ETF in the third quarter worth $7,820,000. United Asset Strategies Inc. increased its position in shares of SPDR ICE Preferred Securities ETF by 8.5% during the third quarter. United Asset Strategies Inc. now owns 271,946 shares of the company’s stock worth $7,707,000 after purchasing an additional 21,372 shares in the last quarter. Bank of America Corp DE increased its position in shares of SPDR ICE Preferred Securities ETF by 14.4% during the first quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock worth $8,001,000 after purchasing an additional 32,597 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of SPDR ICE Preferred Securities ETF by 90.6% during the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after purchasing an additional 102,077 shares in 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.