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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares reached a new 52-week low on Wednesday. The company traded as low as $28.00 and last traded at $27.9880, with a volume of 95126 shares traded. The stock had previously closed at $28.19.

SPDR ICE Preferred Securities ETF Stock Down 0.6%

The stock’s fifty day simple moving average is $29.39 and its 200 day simple moving average is $30.38.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSK. Rosenberg Matthew Hamilton increased its stake in shares of SPDR ICE Preferred Securities ETF by 23.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 141,339 shares of the company’s stock worth $4,006,000 after acquiring an additional 26,729 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of SPDR ICE Preferred Securities ETF by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 624,490 shares of the company’s stock valued at $19,066,000 after acquiring an additional 22,976 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of SPDR ICE Preferred Securities ETF in the second quarter valued at about $3,677,000. NewEdge Advisors LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 2.5% in the second quarter. NewEdge Advisors LLC now owns 26,441 shares of the company’s stock valued at $807,000 after purchasing an additional 651 shares during the period. Finally, Financial Insights Inc. increased its position in SPDR ICE Preferred Securities ETF by 8.6% during the second quarter. Financial Insights Inc. now owns 34,845 shares of the company’s stock worth $1,064,000 after purchasing an additional 2,750 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.