SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 52-Week Low – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $32.66 and last traded at $32.67, with a volume of 122051 shares. The stock had previously closed at $33.05.

SPDR ICE Preferred Securities ETF Trading Down 1.3 %

The company’s 50-day moving average is $33.96 and its 200 day moving average is $34.49.

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 PSK. Larson Financial Group LLC purchased a new position in shares of SPDR ICE Preferred Securities ETF in the third quarter valued at approximately $31,000. Matrix Trust Co acquired a new position in SPDR ICE Preferred Securities ETF in the 3rd quarter valued at $68,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in SPDR ICE Preferred Securities ETF by 98.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,450 shares of the company’s stock valued at $159,000 after purchasing an additional 2,203 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in SPDR ICE Preferred Securities ETF during the 3rd quarter worth $232,000. Finally, Hilton Capital Management LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 20.3% during the third quarter. Hilton Capital Management LLC now owns 10,275 shares of the company’s stock worth $366,000 after buying an additional 1,735 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.