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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low on Monday. The stock traded as low as $27.75 and last traded at $27.81, with a volume of 221,659 shares. The stock had previously closed at $27.81.

SPDR ICE Preferred Securities ETF Stock Performance

The company has a fifty day moving average price of $28.72 and a two-hundred day moving average price of $30.56.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in SPDR ICE Preferred Securities ETF by 3.8% during the second quarter. Envestnet Asset Management Inc. now owns 624,490 shares of the company’s stock worth $19,066,000 after buying an additional 22,976 shares during the last quarter. Bank of America Corp DE increased its stake in shares of SPDR ICE Preferred Securities ETF by 14.4% in the 1st quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock worth $8,001,000 after acquiring an additional 32,597 shares during the last quarter. United Asset Strategies Inc. increased its stake in shares of SPDR ICE Preferred Securities ETF by 8.5% in the 3rd quarter. United Asset Strategies Inc. now owns 271,946 shares of the company’s stock worth $7,707,000 after acquiring an additional 21,372 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of SPDR ICE Preferred Securities ETF by 90.6% during the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after acquiring an additional 102,077 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter worth $4,564,000.

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.