SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Unusually-High Trading Volume – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw strong trading volume on Wednesday . Approximately 113,285 shares changed hands during trading, an increase of 12% from the previous session’s volume of 100,883 shares.The stock last traded at $29.0760 and had previously closed at $28.93.

SPDR ICE Preferred Securities ETF Price Performance

The stock has a 50-day simple moving average of $29.84 and a two-hundred day simple moving average of $30.66.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in SPDR ICE Preferred Securities ETF during the 2nd quarter valued at $3,677,000. NewEdge Advisors LLC lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 2.5% during the 2nd quarter. NewEdge Advisors LLC now owns 26,441 shares of the company’s stock valued at $807,000 after buying an additional 651 shares during the period. Financial Insights Inc. boosted its stake in shares of SPDR ICE Preferred Securities ETF by 8.6% in the 2nd quarter. Financial Insights Inc. now owns 34,845 shares of the company’s stock worth $1,064,000 after buying an additional 2,750 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of 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 buying an additional 61,286 shares during the last quarter. Finally, Clarus Wealth Advisors bought a new stake in shares of SPDR ICE Preferred Securities ETF in the second quarter worth $732,000.

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.