SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 12-Month Low – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low on Monday. The stock traded as low as $27.75 and last traded at $27.81, with a volume of 221,659 shares changing hands. The stock had previously closed at $27.81.

SPDR ICE Preferred Securities ETF Price Performance

The stock has a 50 day moving average price of $28.72 and a 200-day moving average price of $30.56.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management raised its position in shares of SPDR ICE Preferred Securities ETF by 75.5% in the third quarter. Triumph Capital Management now owns 1,127 shares of the company’s stock valued at $32,000 after buying an additional 485 shares during the last quarter. SRH Advisors LLC acquired a new position in SPDR ICE Preferred Securities ETF during the third quarter worth about $46,000. Sowell Financial Services LLC acquired a new position in SPDR ICE Preferred Securities ETF during the third quarter worth about $220,000. WealthPoint Financial LLC boosted its position in SPDR ICE Preferred Securities ETF by 28.2% during the first quarter. WealthPoint Financial LLC now owns 10,472 shares of the company’s stock worth $323,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC grew its stake in SPDR ICE Preferred Securities ETF by 20.0% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 12,000 shares of the company’s stock valued at $340,000 after acquiring an additional 2,000 shares in 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.