SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 1-Year Low – Should You Sell?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price reached a new 52-week low on Monday . The company traded as low as $30.85 and last traded at $30.87, with a volume of 52227 shares traded. The stock had previously closed at $30.86.

SPDR ICE Preferred Securities ETF Stock Performance

The company has a 50 day moving average of $31.99 and a two-hundred day moving average of $32.29.

SPDR ICE Preferred Securities ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several hedge funds and other institutional investors have recently modified their holdings of PSK. Royal Bank of Canada grew its position in SPDR ICE Preferred Securities ETF by 0.8% during the 4th quarter. Royal Bank of Canada now owns 901,400 shares of the company’s stock worth $28,566,000 after purchasing an additional 7,186 shares during the last quarter. UBS Group AG raised its holdings in shares of SPDR ICE Preferred Securities ETF by 142.9% in the fourth quarter. UBS Group AG now owns 650,656 shares of the company’s stock worth $20,619,000 after buying an additional 382,777 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of SPDR ICE Preferred Securities ETF by 2.1% during the third quarter. Envestnet Asset Management Inc. now owns 594,492 shares of the company’s stock worth $19,660,000 after buying an additional 12,391 shares during the period. Park Avenue Securities LLC lifted its stake in shares of SPDR ICE Preferred Securities ETF by 13.9% during the third quarter. Park Avenue Securities LLC now owns 528,890 shares of the company’s stock worth $17,490,000 after buying an additional 64,707 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 2.8% during the fourth quarter. LPL Financial LLC now owns 477,119 shares of the company’s stock valued at $15,120,000 after buying an additional 12,919 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.