SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 1-Year Low – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $30.43 and last traded at $30.43, with a volume of 55508 shares traded. The stock had previously closed at $30.54.

SPDR ICE Preferred Securities ETF Stock Performance

The stock has a 50 day simple moving average of $31.09 and a two-hundred day simple moving average of $31.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PSK. Jones Financial Companies Lllp increased its position in SPDR ICE Preferred Securities ETF by 274.9% during the first quarter. Jones Financial Companies Lllp now owns 32,800 shares of the company’s stock worth $987,000 after purchasing an additional 24,052 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at approximately $143,000. Betterment LLC increased its holdings in shares of SPDR ICE Preferred Securities ETF by 3.2% during the 2nd quarter. Betterment LLC now owns 24,739 shares of the company’s stock worth $786,000 after buying an additional 773 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of SPDR ICE Preferred Securities ETF by 7.5% during the 2nd quarter. Raymond James Financial Inc. now owns 305,707 shares of the company’s stock worth $9,709,000 after buying an additional 21,450 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of SPDR ICE Preferred Securities ETF by 8.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 84,149 shares of the company’s stock worth $2,673,000 after buying an additional 6,463 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.