VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 1-Year High – Still a Buy?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $18.55 and last traded at $18.4180, with a volume of 1783 shares traded. The stock had previously closed at $18.53.

VanEck Preferred Securities ex Financials ETF Stock Performance

The firm has a market cap of $2.11 billion, a PE ratio of 0.59 and a beta of 0.60. The company’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $17.78.

Institutional Investors Weigh In On VanEck Preferred Securities ex Financials ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new position in shares of VanEck Preferred Securities ex Financials ETF in the 2nd quarter worth about $48,000. NTV Asset Management LLC increased its stake in VanEck Preferred Securities ex Financials ETF by 19.3% during the 2nd quarter. NTV Asset Management LLC now owns 123,136 shares of the company’s stock valued at $2,108,000 after purchasing an additional 19,900 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in VanEck Preferred Securities ex Financials ETF by 10.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 214,581 shares of the company’s stock worth $3,674,000 after buying an additional 20,935 shares during the last quarter. Measured Risk Portfolios Inc. grew its holdings in shares of VanEck Preferred Securities ex Financials ETF by 1.5% during the second quarter. Measured Risk Portfolios Inc. now owns 136,059 shares of the company’s stock valued at $2,329,000 after buying an additional 2,043 shares during the last quarter. Finally, MSH Capital Advisors LLC increased its position in shares of VanEck Preferred Securities ex Financials ETF by 5.3% during the second quarter. MSH Capital Advisors LLC now owns 84,519 shares of the company’s stock valued at $1,447,000 after acquiring an additional 4,270 shares in the last quarter.

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.