SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – Still a Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Wednesday . Approximately 379,088 shares were traded during mid-day trading, an increase of 212% from the previous session’s volume of 121,329 shares.The stock last traded at $32.3860 and had previously closed at $32.36.

SPDR ICE Preferred Securities ETF Trading Up 0.3%

The stock’s 50-day simple moving average is $32.08 and its 200-day simple moving average is $32.46.

SPDR ICE Preferred Securities ETF Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.18 per share. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of SPDR ICE Preferred Securities ETF by 0.8% during the fourth quarter. Royal Bank of Canada now owns 901,400 shares of the company’s stock valued at $28,566,000 after buying an additional 7,186 shares during the last quarter. UBS Group AG lifted its stake in SPDR ICE Preferred Securities ETF by 142.9% during the 4th quarter. UBS Group AG now owns 650,656 shares of the company’s stock valued at $20,619,000 after acquiring an additional 382,777 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 2.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 594,492 shares of the company’s stock valued at $19,660,000 after acquiring an additional 12,391 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of SPDR ICE Preferred Securities ETF by 13.9% in the third quarter. Park Avenue Securities LLC now owns 528,890 shares of the company’s stock worth $17,490,000 after acquiring an additional 64,707 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of SPDR ICE Preferred Securities ETF by 2.8% during the fourth quarter. LPL Financial LLC now owns 477,119 shares of the company’s stock valued at $15,120,000 after purchasing an additional 12,919 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.