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

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

SPDR ICE Preferred Securities ETF Stock Down 1.3 %

The stock’s 50 day simple moving average is $33.96 and its two-hundred day simple moving average is $34.49.

Institutional Trading of SPDR ICE Preferred Securities ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC lifted its holdings in SPDR ICE Preferred Securities ETF by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 22,821 shares of the company’s stock valued at $814,000 after acquiring an additional 417 shares during the last quarter. Larson Financial Group LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the third quarter valued at $31,000. JPMorgan Chase & Co. lifted its stake in shares of SPDR ICE Preferred Securities ETF by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 64,122 shares of the company’s stock valued at $2,287,000 after purchasing an additional 882 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of SPDR ICE Preferred Securities ETF by 1.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 124,411 shares of the company’s stock worth $4,221,000 after purchasing an additional 1,367 shares during the period. Finally, Hilton Capital Management LLC increased its position in shares of SPDR ICE Preferred Securities ETF by 20.3% during the 3rd quarter. Hilton Capital Management LLC now owns 10,275 shares of the company’s stock worth $366,000 after purchasing an additional 1,735 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.