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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $29.89 and last traded at $29.89, with a volume of 10646 shares. The stock had previously closed at $29.90.

SPDR ICE Preferred Securities ETF Stock Down 0.2%

The company has a 50 day simple moving average of $30.47 and a 200-day simple moving average of $31.23.

Institutional Trading of SPDR ICE Preferred Securities ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its holdings in shares of SPDR ICE Preferred Securities ETF by 142.9% during the fourth quarter. UBS Group AG now owns 650,656 shares of the company’s stock worth $20,619,000 after purchasing an additional 382,777 shares during the period. Checchi Capital Advisers LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF during the 4th quarter worth $6,012,000. Zacks Investment Management acquired a new stake in shares of SPDR ICE Preferred Securities ETF in the 4th quarter valued at approximately $5,187,000. Cetera Investment Advisers boosted its position in SPDR ICE Preferred Securities ETF by 90.6% in the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock valued at $6,623,000 after buying an additional 102,077 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in SPDR ICE Preferred Securities ETF by 63,308.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 60,238 shares of the company’s stock worth $1,909,000 after acquiring an additional 60,143 shares during 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.