SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Reaches New 1-Year Low – Should You Sell?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $32.75 and last traded at $32.75, with a volume of 318 shares trading hands. The stock had previously closed at $32.91.

SPDR ICE Preferred Securities ETF Stock Down 0.2 %

The business has a 50 day simple moving average of $34.34 and a two-hundred day simple moving average of $34.54.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in SPDR ICE Preferred Securities ETF during the 3rd quarter valued at $31,000. Matrix Trust Co bought a new stake in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter valued at about $68,000. International Assets Investment Management LLC bought a new position in shares of SPDR ICE Preferred Securities ETF in the 2nd quarter worth approximately $117,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of SPDR ICE Preferred Securities ETF by 98.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,450 shares of the company’s stock valued at $159,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Clear Creek Financial Management LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the third quarter worth $232,000.

About SPDR ICE Preferred Securities ETF

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.