VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Reaches New 1-Year High – Here’s Why

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) shares reached a new 52-week high on Wednesday . The company traded as high as $18.69 and last traded at $18.67, with a volume of 398237 shares changing hands. The stock had previously closed at $18.55.

VanEck Preferred Securities ex Financials ETF Stock Up 0.7%

The business’s 50-day simple moving average is $18.04 and its two-hundred day simple moving average is $17.97. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 0.59 and a beta of 0.62.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

A number of hedge funds have recently bought and sold shares of PFXF. Carson Advisory Inc. purchased a new stake in shares of VanEck Preferred Securities ex Financials ETF in the first quarter valued at approximately $179,000. Independent Financial Group LLC acquired a new position in VanEck Preferred Securities ex Financials ETF during the first quarter worth $1,936,000. D.A. Davidson & CO. grew its holdings in VanEck Preferred Securities ex Financials ETF by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 87,624 shares of the company’s stock valued at $1,537,000 after buying an additional 5,887 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of VanEck Preferred Securities ex Financials ETF by 15.0% in the 1st quarter. Sanctuary Advisors LLC now owns 157,933 shares of the company’s stock worth $2,770,000 after acquiring an additional 20,641 shares during the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of VanEck Preferred Securities ex Financials ETF by 2.5% during the 1st quarter. Sigma Planning Corp now owns 124,872 shares of the company’s stock worth $2,190,000 after acquiring an additional 3,102 shares during the period.

About VanEck Preferred Securities ex Financials ETF

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.