SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 12-Month Low – Should You Sell?
by Renee Jackson · The Cerbat GemSPDR ICE Preferred Securities ETF (NYSEARCA:PSK – Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as $28.91 and last traded at $28.9920, with a volume of 3913 shares changing hands. The stock had previously closed at $29.07.
SPDR ICE Preferred Securities ETF Price Performance
The business’s fifty day simple moving average is $29.92 and its 200-day simple moving average is $30.73.
Institutional Trading of SPDR ICE Preferred Securities ETF
Large investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in SPDR ICE Preferred Securities ETF by 14.4% during the 1st 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 period. Cetera Investment Advisers lifted its holdings 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 buying an additional 102,077 shares during the period. Ameritas Advisory Services LLC grew its position in shares of 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 buying an additional 61,286 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $3,677,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of SPDR ICE Preferred Securities ETF by 4.3% during the first quarter. PNC Financial Services Group Inc. now owns 112,901 shares of the company’s stock valued at $3,482,000 after buying an additional 4,623 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.