VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Sets New 1-Year High – Time to Buy?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $18.36 and last traded at $18.35, with a volume of 53124 shares changing hands. The stock had previously closed at $18.32.

VanEck Preferred Securities ex Financials ETF Stock Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 0.59 and a beta of 0.60. The firm has a fifty day moving average price of $17.75 and a 200-day moving average price of $17.72.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Advisors Ltd. LLC acquired a new stake in shares of VanEck Preferred Securities ex Financials ETF in the 2nd quarter valued at $26,000. Simplex Trading LLC lifted its position in shares of VanEck Preferred Securities ex Financials ETF by 97.2% during the 2nd quarter. Simplex Trading LLC now owns 1,597 shares of the company’s stock worth $27,000 after buying an additional 787 shares during the last quarter. Allworth Financial LP acquired a new stake in VanEck Preferred Securities ex Financials ETF in the second quarter valued at about $29,000. Root Financial Partners LLC bought a new position in VanEck Preferred Securities ex Financials ETF in the third quarter valued at about $33,000. Finally, DHJJ Financial Advisors Ltd. acquired a new position in VanEck Preferred Securities ex Financials ETF during the second quarter worth about $48,000.

VanEck Preferred Securities ex Financials ETF Company Profile

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.