SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 52-Week Low – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low on Wednesday. The company traded as low as $28.00 and last traded at $27.9880, with a volume of 95126 shares trading hands. The stock had previously closed at $28.19.

SPDR ICE Preferred Securities ETF Stock Performance

The company has a 50 day simple moving average of $29.30 and a 200-day simple moving average of $30.33.

Institutional Trading of SPDR ICE Preferred Securities ETF

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in SPDR ICE Preferred Securities ETF during the 2nd quarter valued at about $3,677,000. Cetera Investment Advisers increased its stake in SPDR ICE Preferred Securities ETF by 90.6% in the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after purchasing an additional 102,077 shares during the period. Ameritas Advisory Services LLC increased its stake in SPDR ICE Preferred Securities ETF by 99.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock worth $3,746,000 after purchasing an additional 61,286 shares during the period. Bank of America Corp DE lifted its position in SPDR ICE Preferred Securities ETF by 14.4% in the first quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock valued at $8,001,000 after purchasing an additional 32,597 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in SPDR ICE Preferred Securities ETF by 164.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 45,908 shares of the company’s stock valued at $1,455,000 after purchasing an additional 28,533 shares during the last quarter.

About SPDR ICE Preferred Securities 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.