SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 1-Year Low – Here’s Why

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low on Monday . The company traded as low as $30.12 and last traded at $30.15, with a volume of 3236 shares changing hands. The stock had previously closed at $30.28.

SPDR ICE Preferred Securities ETF Trading Down 0.4%

The company has a fifty day moving average of $30.58 and a 200-day moving average of $31.31.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds have recently bought and sold shares of PSK. WealthPoint Financial LLC raised its holdings in shares of SPDR ICE Preferred Securities ETF by 28.2% in the first quarter. WealthPoint Financial LLC now owns 10,472 shares of the company’s stock valued at $323,000 after purchasing an additional 2,304 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in SPDR ICE Preferred Securities ETF by 1.4% during the first quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock worth $795,000 after purchasing an additional 359 shares during the last quarter. Bank of America Corp DE boosted its holdings in SPDR ICE Preferred Securities ETF by 14.4% during the first quarter. Bank of America Corp DE now owns 259,438 shares of the company’s stock worth $8,001,000 after purchasing an additional 32,597 shares during the last quarter. Financial Insights Inc. grew its position in SPDR ICE Preferred Securities ETF by 16.2% in the 1st quarter. Financial Insights Inc. now owns 32,095 shares of the company’s stock worth $990,000 after purchasing an additional 4,476 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in SPDR ICE Preferred Securities ETF by 90.6% in the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after purchasing an additional 102,077 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.