SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sets New 1-Year Low – Should You Sell?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $32.85 and last traded at $32.85, with a volume of 46540 shares changing hands. The stock had previously closed at $33.12.

SPDR ICE Preferred Securities ETF Stock Down 0.3 %

The business has a fifty day simple moving average of $34.51 and a 200 day simple moving average of $34.55.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of SPDR ICE Preferred Securities ETF by 500.6% in the 2nd quarter. Raymond James & Associates now owns 117,635 shares of the company’s stock valued at $3,991,000 after purchasing an additional 98,049 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of SPDR ICE Preferred Securities ETF during the second quarter worth $19,949,000. Financial Advocates Investment Management increased its holdings in shares of SPDR ICE Preferred Securities ETF by 13.4% during the second quarter. Financial Advocates Investment Management now owns 10,488 shares of the company’s stock worth $356,000 after buying an additional 1,242 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter valued at $117,000. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 63.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 22,404 shares of the company’s stock valued at $760,000 after acquiring an additional 8,704 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.