HBK Sorce Advisory LLC Has $293,000 Position in SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

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HBK Sorce Advisory LLC boosted its position in SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,778 shares of the company’s stock after purchasing an additional 375 shares during the period. HBK Sorce Advisory LLC’s holdings in SPDR Wells Fargo Preferred Stock ETF were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Buffington Mohr McNeal increased its holdings in SPDR Wells Fargo Preferred Stock ETF by 129.8% in the 2nd quarter. Buffington Mohr McNeal now owns 10,043 shares of the company’s stock worth $434,000 after purchasing an additional 5,673 shares in the last quarter. Windsor Capital Management LLC grew its position in shares of SPDR Wells Fargo Preferred Stock ETF by 10.8% in the 2nd quarter. Windsor Capital Management LLC now owns 46,767 shares of the company’s stock valued at $2,020,000 after buying an additional 4,556 shares during the last quarter. LPL Financial LLC grew its position in shares of SPDR Wells Fargo Preferred Stock ETF by 25.5% in the 2nd quarter. LPL Financial LLC now owns 148,759 shares of the company’s stock valued at $6,428,000 after buying an additional 30,195 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of SPDR Wells Fargo Preferred Stock ETF in the 1st quarter valued at about $1,046,000. Finally, Synovus Financial Corp grew its position in shares of SPDR Wells Fargo Preferred Stock ETF by 17.3% in the 1st quarter. Synovus Financial Corp now owns 35,679 shares of the company’s stock valued at $1,522,000 after buying an additional 5,263 shares during the last quarter.

Separately, GMP Securities reiterated a “buy” rating and issued a $22.00 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Wednesday, July 24th.

Shares of SPDR Wells Fargo Preferred Stock ETF stock traded down $0.04 on Wednesday, hitting $44.09. 5,905 shares of the company’s stock traded hands, compared to its average volume of 136,476. SPDR Wells Fargo Preferred Stock ETF has a one year low of $38.53 and a one year high of $44.27. The company has a fifty day moving average of $43.88 and a two-hundred day moving average of $43.19.

The firm also recently announced a — dividend, which was paid on Monday, September 9th. Investors of record on Wednesday, September 4th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 3rd. This represents a dividend yield of 5.8%.

SPDR Wells Fargo Preferred Stock ETF 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.

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Institutional Ownership by Quarter for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

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