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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s stock price reached a new 52-week low on Thursday. The stock traded as low as $28.77 and last traded at $28.8430, with a volume of 27260 shares trading hands. The stock had previously closed at $28.88.

SPDR ICE Preferred Securities ETF Price Performance

The business’s fifty day simple moving average is $29.66 and its two-hundred day simple moving average is $30.55.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in shares of SPDR ICE Preferred Securities ETF by 568.7% in the fourth quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock valued at $83,000 after purchasing an additional 2,218 shares during the period. Amicus Financial Advisors LLC purchased a new stake in SPDR ICE Preferred Securities ETF during the 4th quarter worth approximately $240,000. WealthPoint Financial LLC acquired a new position in shares of SPDR ICE Preferred Securities ETF during the fourth quarter valued at approximately $259,000. Fifth Third Bancorp acquired a new position in shares of SPDR ICE Preferred Securities ETF during the first quarter valued at approximately $445,000. Finally, Cornerstone Financial Group LLC NE lifted its position in shares of SPDR ICE Preferred Securities ETF by 3.7% in the fourth quarter. Cornerstone Financial Group LLC NE now owns 20,111 shares of the company’s stock valued at $637,000 after acquiring an additional 719 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.