SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – What’s Next?

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-high trading volume on Tuesday. Approximately 322,883 shares changed hands during trading, an increase of 166% from the average daily volume of 121,198 shares. The stock last traded at $27.8830 and had previously closed at $28.30.

SPDR ICE Preferred Securities ETF Price Performance

The firm’s fifty day moving average price is $28.51 and its 200 day moving average price is $30.43.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors have recently bought and sold shares of the business. FDx Advisors Inc. purchased a new stake in SPDR ICE Preferred Securities ETF during the third quarter worth $1,629,000. Diversified Trust Co purchased a new position in shares of SPDR ICE Preferred Securities ETF in the 3rd quarter valued at $320,000. Allworth Financial LP increased its holdings in shares of SPDR ICE Preferred Securities ETF by 6.4% in the 3rd quarter. Allworth Financial LP now owns 118,553 shares of the company’s stock valued at $3,619,000 after acquiring an additional 7,081 shares during the period. Lido Advisors LLC purchased a new position in shares of SPDR ICE Preferred Securities ETF in the 3rd quarter valued at $7,820,000. Finally, Parr Mcknight Wealth Management Group LLC raised its position in shares of SPDR ICE Preferred Securities ETF by 20.0% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 12,000 shares of the company’s stock worth $340,000 after acquiring an additional 2,000 shares in the last quarter.

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.