SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – Should You Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw strong trading volume on Friday . 286,268 shares traded hands during mid-day trading, an increase of 141% from the previous session’s volume of 118,670 shares.The stock last traded at $31.84 and had previously closed at $32.02.

SPDR ICE Preferred Securities ETF Trading Down 0.5%

The firm has a fifty day moving average price of $32.17 and a 200-day moving average price of $32.45.

SPDR ICE Preferred Securities ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors and hedge funds have recently bought and sold shares of PSK. Cornerstone Planning Group LLC raised its stake in SPDR ICE Preferred Securities ETF by 1,001.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 771 shares of the company’s stock worth $25,000 after purchasing an additional 701 shares during the period. City Holding Co. acquired a new stake in shares of SPDR ICE Preferred Securities ETF during the 4th quarter worth $37,000. AE Wealth Management LLC raised its position in shares of SPDR ICE Preferred Securities ETF by 111.4% in the 3rd quarter. AE Wealth Management LLC now owns 1,300 shares of the company’s stock worth $43,000 after buying an additional 685 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of SPDR ICE Preferred Securities ETF by 287.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,789 shares of the company’s stock worth $57,000 after buying an additional 1,327 shares during the period. Finally, IFP Advisors Inc boosted its holdings in SPDR ICE Preferred Securities ETF by 568.7% in the fourth quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock valued at $83,000 after acquiring an additional 2,218 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.