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

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) hit a new 52-week low during trading on Wednesday. The company traded as low as $28.32 and last traded at $28.42, with a volume of 144136 shares trading hands. The stock had previously closed at $28.54.

SPDR ICE Preferred Securities ETF Stock Up 0.3%

The business’s 50 day moving average is $29.51 and its two-hundred day moving average is $30.45.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several hedge funds have recently made changes to their positions in PSK. Amicus Financial Advisors LLC bought a new position in SPDR ICE Preferred Securities ETF in the 4th quarter worth about $240,000. WealthPoint Financial LLC bought a new position in shares of SPDR ICE Preferred Securities ETF in the fourth quarter valued at approximately $259,000. Fifth Third Bancorp purchased a new position in SPDR ICE Preferred Securities ETF during the first quarter valued at approximately $445,000. Cornerstone Financial Group LLC NE increased its holdings in SPDR ICE Preferred Securities ETF by 3.7% during the 4th quarter. Cornerstone Financial Group LLC NE now owns 20,111 shares of the company’s stock worth $637,000 after acquiring an additional 719 shares during the period. Finally, Clarus Wealth Advisors bought a new stake in SPDR ICE Preferred Securities ETF during the 2nd quarter worth approximately $732,000.

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.