SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – Should You Buy?

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Wednesday . Approximately 192,527 shares were traded during mid-day trading, an increase of 32% from the previous session’s volume of 145,465 shares.The stock last traded at $31.9450 and had previously closed at $32.08.

SPDR ICE Preferred Securities ETF Price Performance

The company has a 50-day moving average of $32.86 and a 200 day moving average of $32.32.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Equitable Holdings Inc. boosted its stake in shares of SPDR ICE Preferred Securities ETF by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 8,613 shares of the company’s stock worth $285,000 after purchasing an additional 332 shares during the period. Cornerstone Financial Group LLC NE lifted its stake in SPDR ICE Preferred Securities ETF by 1.9% in the second quarter. Cornerstone Financial Group LLC NE now owns 18,194 shares of the company’s stock worth $578,000 after purchasing an additional 345 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in SPDR ICE Preferred Securities ETF by 1.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 38,194 shares of the company’s stock worth $1,213,000 after purchasing an additional 448 shares during the last quarter. Comerica Bank boosted its position in shares of SPDR ICE Preferred Securities ETF by 4.9% during the first quarter. Comerica Bank now owns 9,966 shares of the company’s stock valued at $323,000 after buying an additional 465 shares during the period. Finally, Pure Financial Advisors LLC grew its stake in shares of SPDR ICE Preferred Securities ETF by 2.0% during the third quarter. Pure Financial Advisors LLC now owns 24,817 shares of the company’s stock valued at $821,000 after buying an additional 494 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.