VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Reaches New 12-Month High – Still a Buy?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.55 and last traded at $18.4180, with a volume of 1783 shares. The stock had previously closed at $18.53.

VanEck Preferred Securities ex Financials ETF Stock Performance

The company’s 50 day moving average price is $17.87 and its 200-day moving average price is $17.78. The stock has a market cap of $2.13 billion, a P/E ratio of 0.59 and a beta of 0.60.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Silver Coast Investments LLC increased its position in shares of VanEck Preferred Securities ex Financials ETF by 2.9% during the fourth quarter. Silver Coast Investments LLC now owns 293,523 shares of the company’s stock valued at $5,184,000 after acquiring an additional 8,192 shares during the last quarter. Tanager Wealth Management LLP grew its stake in VanEck Preferred Securities ex Financials ETF by 12.7% in the 4th quarter. Tanager Wealth Management LLP now owns 1,449,088 shares of the company’s stock valued at $25,591,000 after purchasing an additional 162,742 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of VanEck Preferred Securities ex Financials ETF by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,655 shares of the company’s stock valued at $824,000 after purchasing an additional 9,655 shares during the last quarter. Roman Butler Fullerton & Co. raised its stake in shares of VanEck Preferred Securities ex Financials ETF by 22.1% during the 4th quarter. Roman Butler Fullerton & Co. now owns 50,248 shares of the company’s stock worth $928,000 after purchasing an additional 9,079 shares during the period. Finally, Brendel Financial Advisors LLC raised its stake in shares of VanEck Preferred Securities ex Financials ETF by 3.6% during the 4th quarter. Brendel Financial Advisors LLC now owns 163,097 shares of the company’s stock worth $2,880,000 after purchasing an additional 5,612 shares during the period.

VanEck Preferred Securities ex Financials ETF Company Profile

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.