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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $29.89 and last traded at $29.89, with a volume of 10646 shares. The stock had previously closed at $29.90.

SPDR ICE Preferred Securities ETF Stock Down 0.2%

The stock’s fifty day moving average price is $30.47 and its 200 day moving average price is $31.23.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 1,001.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 771 shares of the company’s stock worth $25,000 after purchasing an additional 701 shares in the last quarter. City Holding Co. purchased a new position in shares of SPDR ICE Preferred Securities ETF during the 4th quarter valued at about $37,000. IFP Advisors Inc lifted its position 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 last quarter. WFA of San Diego LLC bought a new stake in SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $84,000. Finally, International Assets Investment Management LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the fourth quarter worth approximately $133,000.

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.