SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 12-Month Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low during trading on Wednesday . The stock traded as low as $30.32 and last traded at $30.36, with a volume of 4878 shares trading hands. The stock had previously closed at $30.53.

SPDR ICE Preferred Securities ETF Price Performance

The company’s 50 day moving average price is $30.71 and its two-hundred day moving average price is $31.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PSK. Royal Bank of Canada increased its stake in shares of SPDR ICE Preferred Securities ETF by 0.8% in 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 in the last quarter. UBS Group AG lifted its position in SPDR ICE Preferred Securities ETF by 142.9% during the fourth quarter. UBS Group AG now owns 650,656 shares of the company’s stock valued at $20,619,000 after purchasing an additional 382,777 shares in the last quarter. LPL Financial LLC lifted its position in 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 purchasing an additional 12,919 shares in the last quarter. Raymond James Financial Inc. grew its holdings in SPDR ICE Preferred Securities ETF by 9.6% during the third quarter. Raymond James Financial Inc. now owns 334,976 shares of the company’s stock valued at $11,078,000 after purchasing an additional 29,269 shares during the period. Finally, Bank of America Corp DE grew its holdings in SPDR ICE Preferred Securities ETF by 14.4% during the first quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock valued at $8,001,000 after purchasing an additional 32,597 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.