SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 52-Week Low – Here’s Why

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low on Wednesday . The company traded as low as $30.32 and last traded at $30.36, with a volume of 4878 shares trading hands. The stock had previously closed at $30.53.

SPDR ICE Preferred Securities ETF Stock Performance

The stock has a 50 day moving average of $30.71 and a 200-day moving average of $31.40.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in shares of SPDR ICE Preferred Securities ETF by 1,001.4% in 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. purchased a new position in shares of SPDR ICE Preferred Securities ETF during the 4th quarter valued at $37,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of SPDR ICE Preferred Securities ETF by 287.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,789 shares of the company’s stock valued at $57,000 after buying an additional 1,327 shares in the last quarter. IFP Advisors Inc boosted its holdings in SPDR ICE Preferred Securities ETF by 568.7% in the 4th quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock worth $83,000 after buying an additional 2,218 shares during the period. Finally, WFA of San Diego LLC bought a new position in SPDR ICE Preferred Securities ETF in the 2nd quarter worth $84,000.

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.