Global X U.S. Preferred ETF (NYSEARCA:PFFD) Hits New 1-Year Low – Time to Sell?

Global X U.S. Preferred ETF (NYSEARCA:PFFD) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $16.76 and last traded at $16.7870, with a volume of 287,573 shares traded. The stock had previously closed at $16.89.

Global X U.S. Preferred ETF Trading Down 0.7%

The firm’s fifty day moving average is $17.52 and its 200 day moving average is $18.49.

Institutional Investors Weigh In On Global X U.S. Preferred ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFFD. Advisors Asset Management Inc. purchased a new position in shares of Global X U.S. Preferred ETF during the 3rd quarter valued at $33,000. WealthTrust Axiom LLC purchased a new stake in shares of Global X U.S. Preferred ETF during the third quarter worth $5,300,000. Private Advisor Group LLC purchased a new stake in shares of Global X U.S. Preferred ETF during the third quarter worth $3,654,000. Alpha Financial Partners LLC boosted its position in Global X U.S. Preferred ETF by 12.1% during the third quarter. Alpha Financial Partners LLC now owns 84,599 shares of the company’s stock valued at $1,489,000 after purchasing an additional 9,120 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new stake in Global X U.S. Preferred ETF during the third quarter valued at $1,524,000.

Global X U.S. Preferred ETF Company Profile

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.