Scotiabank reiterated their hold rating on shares of SPDR Wells Fargo Prfd Stk ETF (NYSE:PSK) in a report issued on Tuesday morning. The firm currently has a $35.00 target price on the stock.

Shares of SPDR Wells Fargo Prfd Stk ETF (PSK) opened at 44.43 on Tuesday. The stock’s 50 day moving average is $44.91 and its 200 day moving average is $44.92. SPDR Wells Fargo Prfd Stk ETF has a 52-week low of $41.35 and a 52-week high of $45.69.

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About SPDR Wells Fargo Prfd Stk 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.

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