SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – Here’s Why

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw an uptick in trading volume on Friday . 227,025 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 132,460 shares.The stock last traded at $32.86 and had previously closed at $32.91.

SPDR ICE Preferred Securities ETF Price Performance

The business has a 50-day simple moving average of $34.39 and a 200 day simple moving average of $34.53.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Several large investors have recently made changes to their positions in PSK. Park Avenue Securities LLC boosted its position in shares of SPDR ICE Preferred Securities ETF by 10.6% during the third quarter. Park Avenue Securities LLC now owns 368,094 shares of the company’s stock worth $13,126,000 after acquiring an additional 35,267 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of SPDR ICE Preferred Securities ETF by 63.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 22,404 shares of the company’s stock valued at $760,000 after purchasing an additional 8,704 shares during the last quarter. Raymond James & Associates grew its position in shares of SPDR ICE Preferred Securities ETF by 62.6% during the third quarter. Raymond James & Associates now owns 191,324 shares of the company’s stock valued at $6,823,000 after purchasing an additional 73,689 shares in the last quarter. Financial Advocates Investment Management increased its holdings in shares of SPDR ICE Preferred Securities ETF by 46.5% in the third quarter. Financial Advocates Investment Management now owns 15,363 shares of the company’s stock worth $548,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of SPDR ICE Preferred Securities ETF in the second quarter worth about $19,949,000.

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.