SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits 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 Monday . The stock traded as low as $30.12 and last traded at $30.15, with a volume of 3236 shares trading hands. The stock had previously closed at $30.28.

SPDR ICE Preferred Securities ETF Price Performance

The firm’s 50-day moving average is $30.58 and its 200-day moving average is $31.31.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Greenberg Financial Group acquired a new stake in shares of SPDR ICE Preferred Securities ETF in the 4th quarter worth about $675,000. UBS Group AG boosted its stake in SPDR ICE Preferred Securities ETF by 142.9% during the 4th 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 during the last quarter. Checchi Capital Advisers LLC acquired a new position in SPDR ICE Preferred Securities ETF during the 4th quarter valued at about $6,012,000. RFG Advisory LLC acquired a new position in SPDR ICE Preferred Securities ETF during the 4th quarter valued at about $988,000. Finally, Breachway Investments LLC bought a new stake in SPDR ICE Preferred Securities ETF during the 4th quarter worth approximately $751,000.

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.