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

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $17.00 and last traded at $17.17, with a volume of 3,196 shares traded. The stock had previously closed at $17.23.

VanEck Preferred Securities ex Financials ETF Stock Down 0.7%

The company has a market cap of $2.27 billion, a PE ratio of 0.59 and a beta of 0.64. The stock’s 50 day moving average is $17.81 and its 200-day moving average is $18.02.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

A number of large investors have recently made changes to their positions in PFXF. Bank of America Corp DE lifted its holdings in shares of VanEck Preferred Securities ex Financials ETF by 15.2% during the 1st quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock valued at $93,860,000 after purchasing an additional 705,474 shares during the last quarter. Tanager Wealth Management LLP raised its position in shares of VanEck Preferred Securities ex Financials ETF by 9.6% in the 1st quarter. Tanager Wealth Management LLP now owns 1,587,632 shares of the company’s stock valued at $27,847,000 after purchasing an additional 138,544 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in VanEck Preferred Securities ex Financials ETF by 9.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 725,100 shares of the company’s stock valued at $12,936,000 after purchasing an additional 65,009 shares in the last quarter. Royal Bank of Canada increased its stake in VanEck Preferred Securities ex Financials ETF by 47.5% during the 1st quarter. Royal Bank of Canada now owns 484,045 shares of the company’s stock valued at $8,491,000 after purchasing an additional 155,882 shares in the last quarter. Finally, Carmel Capital Partners LLC lifted its stake in shares of VanEck Preferred Securities ex Financials ETF by 5.7% during the first quarter. Carmel Capital Partners LLC now owns 394,621 shares of the company’s stock worth $6,922,000 after buying an additional 21,373 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.