SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 12-Month Low – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $30.60 and last traded at $30.64, with a volume of 68486 shares trading hands. The stock had previously closed at $30.71.

SPDR ICE Preferred Securities ETF Stock Performance

The stock’s 50 day simple moving average is $31.19 and its 200-day simple moving average is $31.71.

Institutional Trading of SPDR ICE Preferred Securities ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of SPDR ICE Preferred Securities ETF by 0.8% in the fourth quarter. Royal Bank of Canada now owns 901,400 shares of the company’s stock worth $28,566,000 after acquiring an additional 7,186 shares during the period. UBS Group AG increased its stake in shares of SPDR ICE Preferred Securities ETF by 142.9% in the fourth quarter. UBS Group AG now owns 650,656 shares of the company’s stock worth $20,619,000 after acquiring an additional 382,777 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of SPDR ICE Preferred Securities ETF by 2.1% in the third quarter. Envestnet Asset Management Inc. now owns 594,492 shares of the company’s stock worth $19,660,000 after acquiring an additional 12,391 shares during the period. LPL Financial LLC increased its stake in shares of SPDR ICE Preferred Securities ETF by 2.8% in the fourth quarter. LPL Financial LLC now owns 477,119 shares of the company’s stock worth $15,120,000 after acquiring an additional 12,919 shares during the period. Finally, Sage Advisory Services Ltd.Co. increased its stake in shares of SPDR ICE Preferred Securities ETF by 9.3% in the third quarter. Sage Advisory Services Ltd.Co. now owns 362,452 shares of the company’s stock worth $11,986,000 after acquiring an additional 30,963 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.