SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Trading Down 0.2% – Here’s Why

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares traded down 0.2% during trading on Tuesday . The company traded as low as $31.66 and last traded at $31.73. 179,147 shares traded hands during trading, an increase of 22% from the average session volume of 146,321 shares. The stock had previously closed at $31.79.

SPDR ICE Preferred Securities ETF Price Performance

The stock has a 50-day moving average of $32.27 and a 200-day moving average of $32.39.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. raised its stake in SPDR ICE Preferred Securities ETF by 21.7% in the first quarter. Raymond James Financial Inc. now owns 284,257 shares of the company’s stock valued at $9,207,000 after purchasing an additional 50,728 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of SPDR ICE Preferred Securities ETF by 2.9% in the 1st quarter. Synovus Financial Corp now owns 21,223 shares of the company’s stock worth $687,000 after buying an additional 601 shares during the last quarter. Comerica Bank raised its position in shares of SPDR ICE Preferred Securities ETF by 4.9% during the 1st quarter. Comerica Bank now owns 9,966 shares of the company’s stock valued at $323,000 after buying an additional 465 shares in the last quarter. CNO Financial Group Inc. bought a new stake in shares of SPDR ICE Preferred Securities ETF during the 1st quarter worth $22,673,000. Finally, Royal Bank of Canada lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 22.8% during the 1st quarter. Royal Bank of Canada now owns 986,591 shares of the company’s stock worth $31,955,000 after acquiring an additional 183,181 shares during 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.