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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $28.91 and last traded at $28.9920, with a volume of 3913 shares traded. The stock had previously closed at $29.07.

SPDR ICE Preferred Securities ETF Stock Performance

The stock has a 50-day simple moving average of $29.92 and a two-hundred day simple moving average of $30.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSK. Integrated Wealth Concepts LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at about $3,677,000. Cetera Investment Advisers grew its position in SPDR ICE Preferred Securities ETF by 90.6% during the 1st quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock worth $6,623,000 after acquiring an additional 102,077 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in SPDR ICE Preferred Securities ETF by 99.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 122,711 shares of the company’s stock worth $3,746,000 after purchasing an additional 61,286 shares during the period. Bank of America Corp DE increased its stake in SPDR ICE Preferred Securities ETF by 14.4% in the 1st 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 period. Finally, Rockefeller Capital Management L.P. lifted its position in SPDR ICE Preferred Securities ETF by 164.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 45,908 shares of the company’s stock valued at $1,455,000 after purchasing an additional 28,533 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.