VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Reaches New 1-Year Low – What’s Next?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as $16.85 and last traded at $16.96, with a volume of 49,428 shares changing hands. The stock had previously closed at $16.90.

VanEck Preferred Securities ex Financials ETF Stock Up 0.4%

The stock has a market cap of $2.25 billion, a PE ratio of 0.59 and a beta of 0.64. The stock has a 50-day moving average of $17.67 and a 200 day moving average of $18.03.

Institutional Trading of VanEck Preferred Securities ex Financials ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of VanEck Preferred Securities ex Financials ETF by 15.2% during the 1st quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock valued at $93,860,000 after buying an additional 705,474 shares during the period. Parkway Wealth Management Group LLC raised its position in VanEck Preferred Securities ex Financials ETF by 2.4% in the third quarter. Parkway Wealth Management Group LLC now owns 839,267 shares of the company’s stock valued at $14,704,000 after purchasing an additional 19,894 shares during the period. Envestnet Asset Management Inc. raised its position in VanEck Preferred Securities ex Financials ETF by 9.8% in the second quarter. Envestnet Asset Management Inc. now owns 725,100 shares of the company’s stock valued at $12,936,000 after purchasing an additional 65,009 shares during the period. Royal Bank of Canada raised its position in VanEck Preferred Securities ex Financials ETF by 47.5% in the first quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock valued at $8,491,000 after purchasing an additional 155,882 shares during the period. Finally, Carmel Capital Partners LLC grew its holdings in shares of VanEck Preferred Securities ex Financials ETF by 5.7% during the 1st quarter. Carmel Capital Partners LLC now owns 394,621 shares of the company’s stock worth $6,922,000 after purchasing an additional 21,373 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.