SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Large Decline in Short Interest

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 15,929 shares, a decrease of 77.5% from the June 15th total of 70,723 shares. Based on an average daily volume of 99,902 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

SPDR ICE Preferred Securities ETF Trading Down 0.0%

PSK traded down $0.01 during trading on Monday, hitting $30.39. 97,938 shares of the stock were exchanged, compared to its average volume of 94,719. The firm has a 50 day simple moving average of $30.82 and a 200 day simple moving average of $31.46. SPDR ICE Preferred Securities ETF has a 1 year low of $30.33 and a 1 year high of $33.77.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in SPDR ICE Preferred Securities ETF by 274.9% during the 1st quarter. Jones Financial Companies Lllp now owns 32,800 shares of the company’s stock worth $987,000 after acquiring an additional 24,052 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at about $143,000. Betterment LLC raised its holdings in shares of SPDR ICE Preferred Securities ETF by 3.2% in the 2nd quarter. Betterment LLC now owns 24,739 shares of the company’s stock valued at $786,000 after purchasing an additional 773 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of SPDR ICE Preferred Securities ETF by 7.5% in the 2nd quarter. Raymond James Financial Inc. now owns 305,707 shares of the company’s stock worth $9,709,000 after purchasing an additional 21,450 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of SPDR ICE Preferred Securities ETF by 8.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 84,149 shares of the company’s stock worth $2,673,000 after purchasing an additional 6,463 shares during the period.

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.