SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 12-Month Low – Here’s Why

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $29.77 and last traded at $29.78, with a volume of 44032 shares. The stock had previously closed at $29.84.

SPDR ICE Preferred Securities ETF Stock Performance

The company has a fifty day simple moving average of $30.39 and a two-hundred day simple moving average of $31.14.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors have recently modified their holdings of PSK. Jones Financial Companies Lllp raised its holdings in SPDR ICE Preferred Securities ETF by 274.9% during the 1st quarter. Jones Financial Companies Lllp now owns 32,800 shares of the company’s stock worth $987,000 after buying an additional 24,052 shares during the period. Franklin Resources Inc. acquired a new position in shares of SPDR ICE Preferred Securities ETF in the second quarter valued at approximately $143,000. Betterment LLC increased its position in shares of SPDR ICE Preferred Securities ETF by 3.2% during the second quarter. Betterment LLC now owns 24,739 shares of the company’s stock worth $786,000 after acquiring an additional 773 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of SPDR ICE Preferred Securities ETF by 7.5% during the second quarter. Raymond James Financial Inc. now owns 305,707 shares of the company’s stock worth $9,709,000 after acquiring an additional 21,450 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of SPDR ICE Preferred Securities ETF by 8.3% during the second quarter. Ameriprise Financial Inc. now owns 84,149 shares of the company’s stock worth $2,673,000 after acquiring an additional 6,463 shares during the period.

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.