SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – What’s Next?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw an uptick in trading volume on Tuesday. Approximately 322,883 shares changed hands during trading, an increase of 166% from the average daily volume of 121,198 shares. The stock last traded at $27.8830 and had previously closed at $28.30.

SPDR ICE Preferred Securities ETF Stock Down 0.4%

The stock’s 50 day simple moving average is $28.44 and its two-hundred day simple moving average is $30.38.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently made changes to their positions in PSK. Envestnet Asset Management Inc. boosted its stake in SPDR ICE Preferred Securities ETF by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 624,490 shares of the company’s stock worth $19,066,000 after purchasing an additional 22,976 shares during the period. Bank of America Corp DE raised its stake in shares of 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 valued at $8,001,000 after purchasing an additional 32,597 shares during the period. Lido Advisors LLC acquired a new stake in shares of SPDR ICE Preferred Securities ETF in the 3rd quarter valued at about $7,820,000. United Asset Strategies Inc. raised its stake in shares of SPDR ICE Preferred Securities ETF by 8.5% in the 3rd quarter. United Asset Strategies Inc. now owns 271,946 shares of the company’s stock valued at $7,707,000 after purchasing an additional 21,372 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 90.6% in the first quarter. Cetera Investment Advisers now owns 214,758 shares of the company’s stock valued at $6,623,000 after purchasing an additional 102,077 shares in the last quarter.

SPDR ICE Preferred Securities ETF Company Profile

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.