SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 1-Year Low – Here’s Why

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $28.77 and last traded at $28.8430, with a volume of 27260 shares traded. The stock had previously closed at $28.88.

SPDR ICE Preferred Securities ETF Trading Down 0.1%

The stock’s 50-day moving average price is $29.73 and its 200 day moving average price is $30.58.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently added to or reduced their stakes in PSK. Integrated Wealth Concepts LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $3,677,000. Cetera Investment Advisers raised its stake in shares of 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 purchasing an additional 102,077 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in shares of SPDR ICE Preferred Securities ETF by 99.8% in the second quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock valued at $3,746,000 after purchasing an additional 61,286 shares in the last quarter. Bank of America Corp DE lifted its position in SPDR ICE Preferred Securities ETF by 14.4% in 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 during the period. Finally, Rockefeller Capital Management L.P. lifted its position in SPDR ICE Preferred Securities ETF by 164.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 45,908 shares of the company’s stock worth $1,455,000 after purchasing an additional 28,533 shares during the period.

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.