SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 52-Week Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low on Monday. The stock traded as low as $27.75 and last traded at $27.81, with a volume of 221,659 shares changing hands. The stock had previously closed at $27.81.

SPDR ICE Preferred Securities ETF Stock Up 2.0%

The company has a fifty day moving average price of $28.61 and a two-hundred day moving average price of $30.49.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter worth approximately $4,564,000. Integrated Wealth Concepts LLC bought a new position in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at about $3,677,000. Cetera Investment Advisers grew its position in shares of SPDR ICE Preferred Securities ETF by 90.6% in the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock valued at $6,623,000 after acquiring an additional 102,077 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of SPDR ICE Preferred Securities ETF by 99.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock worth $3,746,000 after purchasing an additional 61,286 shares during the last quarter. Finally, Eagle Harbor Asset Management Inc. ADV acquired a new position in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter worth about $1,029,000.

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.