VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Hits New 1-Year Low – Time to Sell?

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF)’s stock price reached a new 52-week low on Monday. The company traded as low as $16.55 and last traded at $16.64, with a volume of 154,207 shares changing hands. The stock had previously closed at $16.66.

VanEck Preferred Securities ex Financials ETF Price Performance

The firm’s fifty day moving average is $17.56 and its 200-day moving average is $18.00. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 0.59 and a beta of 0.64.

Hedge Funds Weigh In On VanEck Preferred Securities ex Financials ETF

A number of hedge funds have recently added to or reduced their stakes in PFXF. Bank of America Corp DE grew its position in VanEck Preferred Securities ex Financials ETF by 15.2% in the 1st quarter. Bank of America Corp DE now owns 5,351,204 shares of the company’s stock worth $93,860,000 after purchasing an additional 705,474 shares in the last quarter. Parkway Wealth Management Group LLC increased its position in VanEck Preferred Securities ex Financials ETF by 2.4% in the third quarter. Parkway Wealth Management Group LLC now owns 839,267 shares of the company’s stock worth $14,704,000 after buying an additional 19,894 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 buying an additional 65,009 shares during the last quarter. Royal Bank of Canada grew its stake in shares of 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 worth $8,491,000 after acquiring an additional 155,882 shares during the period. Finally, Carmel Capital Partners LLC grew its stake in shares of VanEck Preferred Securities ex Financials ETF by 5.7% during the 1st quarter. Carmel Capital Partners LLC now owns 394,621 shares of the company’s stock worth $6,922,000 after acquiring an additional 21,373 shares during the period.

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.