SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – Still a Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw an uptick in trading volume on Wednesday . 109,067 shares changed hands during trading, a decline of 39% from the previous session’s volume of 178,133 shares.The stock last traded at $33.14 and had previously closed at $32.57.

SPDR ICE Preferred Securities ETF Trading Down 0.2 %

The stock’s fifty day moving average is $33.79 and its two-hundred day moving average is $34.46.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PSK. Crestwood Advisors Group LLC raised its stake in SPDR ICE Preferred Securities ETF by 1.9% in the 3rd 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 period. Larson Financial Group LLC acquired a new position in shares of SPDR ICE Preferred Securities ETF in the third quarter valued at $31,000. JPMorgan Chase & Co. increased its holdings in shares of SPDR ICE Preferred Securities ETF by 1.4% in the third 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. Pure Financial Advisors LLC lifted its stake in shares of SPDR ICE Preferred Securities ETF by 8.6% during the 4th quarter. Pure Financial Advisors LLC now owns 14,516 shares of the company’s stock worth $479,000 after buying an additional 1,149 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake 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 buying an additional 1,367 shares during the last quarter.

SPDR ICE Preferred Securities ETF Company Profile

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.