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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares reached a new 52-week low on Monday . The stock traded as low as $29.77 and last traded at $29.78, with a volume of 44032 shares trading hands. The stock had previously closed at $29.84.

SPDR ICE Preferred Securities ETF Price Performance

The stock’s 50 day simple moving average is $30.39 and its two-hundred day simple moving average is $31.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its position in shares of SPDR ICE Preferred Securities ETF by 142.9% in 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. Checchi Capital Advisers LLC bought a new stake in SPDR ICE Preferred Securities ETF in the fourth quarter valued at approximately $6,012,000. Zacks Investment Management bought a new stake in SPDR ICE Preferred Securities ETF in the fourth quarter valued at approximately $5,187,000. Cetera Investment Advisers raised its holdings in SPDR ICE Preferred Securities ETF by 90.6% in the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after purchasing an additional 102,077 shares during the period. Finally, Ameritas Advisory Services LLC raised its holdings in SPDR ICE Preferred Securities ETF by 63,308.4% in the fourth quarter. Ameritas Advisory Services LLC now owns 60,238 shares of the company’s stock worth $1,909,000 after purchasing an additional 60,143 shares during the period.

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.