SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 52-Week Low – Here’s What Happened

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low during trading on Tuesday . The stock traded as low as $29.45 and last traded at $29.47, with a volume of 6184 shares trading hands. The stock had previously closed at $29.63.

SPDR ICE Preferred Securities ETF Stock Performance

The business’s 50 day simple moving average is $30.13 and its two-hundred day simple moving average is $30.91.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds have recently added to or reduced their stakes in PSK. Equitable Holdings Inc. lifted its position in SPDR ICE Preferred Securities ETF by 4.0% in the 3rd quarter. Equitable Holdings Inc. now owns 8,613 shares of the company’s stock valued at $285,000 after acquiring an additional 332 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of SPDR ICE Preferred Securities ETF by 1.4% in the 1st quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock worth $795,000 after purchasing an additional 359 shares in the last quarter. Wealthspire Retirement LLC raised its stake in shares of SPDR ICE Preferred Securities ETF by 1.0% in the first quarter. Wealthspire Retirement LLC now owns 40,453 shares of the company’s stock worth $1,248,000 after purchasing an additional 405 shares during the last quarter. Comerica Bank raised its stake in shares of SPDR ICE Preferred Securities ETF by 3.8% in the fourth quarter. Comerica Bank now owns 13,013 shares of the company’s stock worth $412,000 after purchasing an additional 482 shares during the last quarter. Finally, Cornerstone Financial Group LLC NE raised its stake in shares of SPDR ICE Preferred Securities ETF by 3.7% in the fourth quarter. Cornerstone Financial Group LLC NE now owns 20,111 shares of the company’s stock worth $637,000 after purchasing an additional 719 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.