Global X U.S. Preferred ETF (NYSEARCA:PFFD) Hits New 52-Week Low – Time to Sell?

Global X U.S. Preferred ETF (NYSEARCA:PFFD)’s share price reached a new 52-week low on Monday. The company traded as low as $16.94 and last traded at $17.0130, with a volume of 41,591 shares trading hands. The stock had previously closed at $16.97.

Global X U.S. Preferred ETF Stock Performance

The stock’s 50-day moving average price is $17.69 and its two-hundred day moving average price is $18.57.

Hedge Funds Weigh In On Global X U.S. Preferred ETF

Several institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in shares of Global X U.S. Preferred ETF during the first quarter worth $18,434,000. First Citizens Bank & Trust Co. bought a new position in shares of Global X U.S. Preferred ETF in the third quarter worth $584,000. Carnegie Investment Counsel bought a new position in shares of Global X U.S. Preferred ETF in the third quarter worth $5,496,000. Envestnet Asset Management Inc. grew its position in shares of Global X U.S. Preferred ETF by 12.1% in the second quarter. Envestnet Asset Management Inc. now owns 2,522,498 shares of the company’s stock valued at $47,145,000 after purchasing an additional 272,858 shares in the last quarter. Finally, Eagle Harbor Asset Management Inc. ADV purchased a new position in shares of Global X U.S. Preferred ETF in the third quarter valued at $4,716,000.

Global X U.S. Preferred ETF Company Profile

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.