SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 52-Week Low – Here’s What Happened

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s share price hit a new 52-week low during trading on Monday. The company traded as low as $27.87 and last traded at $27.90, with a volume of 176,255 shares trading hands. The stock had previously closed at $28.03.

SPDR ICE Preferred Securities ETF Trading Down 0.4%

The firm has a 50-day simple moving average of $28.89 and a 200-day simple moving average of $30.11.

Institutional Trading of SPDR ICE Preferred Securities ETF

Hedge funds have recently modified their holdings of the company. Triumph Capital Management grew its position in shares of SPDR ICE Preferred Securities ETF by 75.5% during the 3rd quarter. Triumph Capital Management now owns 1,127 shares of the company’s stock worth $32,000 after buying an additional 485 shares during the period. SRH Advisors LLC bought a new position in shares of SPDR ICE Preferred Securities ETF in the third quarter worth $46,000. Sowell Financial Services LLC acquired a new position in SPDR ICE Preferred Securities ETF during the 3rd quarter worth approximately $220,000. WealthPoint Financial LLC grew its holdings in SPDR ICE Preferred Securities ETF by 28.2% during the 1st quarter. WealthPoint Financial LLC now owns 10,472 shares of the company’s stock worth $323,000 after acquiring an additional 2,304 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of SPDR ICE Preferred Securities ETF in the first quarter valued at approximately $445,000.

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.