SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 1-Year Low – Should You Sell?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low on Monday . The company traded as low as $30.35 and last traded at $30.35, with a volume of 20180 shares changing hands. The stock had previously closed at $30.40.

SPDR ICE Preferred Securities ETF Price Performance

The stock has a 50-day moving average of $30.84 and a two-hundred day moving average of $31.47.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds have recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its stake in shares of SPDR ICE Preferred Securities ETF by 1,001.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 771 shares of the company’s stock valued at $25,000 after purchasing an additional 701 shares in the last quarter. City Holding Co. bought a new position in shares of SPDR ICE Preferred Securities ETF during the 4th quarter valued at $37,000. Thurston Springer Miller Herd & Titak Inc. raised its position in SPDR ICE Preferred Securities ETF by 287.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,789 shares of the company’s stock worth $57,000 after purchasing an additional 1,327 shares during the period. IFP Advisors Inc raised its position in SPDR ICE Preferred Securities ETF by 568.7% in the 4th quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock worth $83,000 after purchasing an additional 2,218 shares during the period. Finally, WFA of San Diego LLC purchased a new position in SPDR ICE Preferred Securities ETF in the 2nd quarter worth $84,000.

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.