SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Sees Strong Trading Volume – Time to Buy?

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) shares saw unusually-strong trading volume on Wednesday . Approximately 109,067 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 178,133 shares.The stock last traded at $33.14 and had previously closed at $32.57.

SPDR ICE Preferred Securities ETF Trading Up 1.7 %

The business has a 50-day moving average price of $33.86 and a 200-day moving average price of $34.48.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

A number of large investors have recently made changes to their positions in the company. Atlas Private Wealth Advisors boosted its stake in SPDR ICE Preferred Securities ETF by 210.3% in the 3rd quarter. Atlas Private Wealth Advisors now owns 447,166 shares of the company’s stock worth $15,947,000 after purchasing an additional 303,036 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of SPDR ICE Preferred Securities ETF by 133.2% during the second quarter. Envestnet Asset Management Inc. now owns 314,732 shares of the company’s stock valued at $10,679,000 after buying an additional 179,783 shares in the last quarter. ST Germain D J Co. Inc. raised its position in SPDR ICE Preferred Securities ETF by 81.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 233,536 shares of the company’s stock valued at $7,704,000 after buying an additional 104,560 shares during the period. Elevation Capital Advisory LLC purchased a new stake in SPDR ICE Preferred Securities ETF in the 2nd quarter worth about $2,931,000. Finally, Prospera Financial Services Inc boosted its position in SPDR ICE Preferred Securities ETF by 1,293.2% during the 3rd quarter. Prospera Financial Services Inc now owns 87,090 shares of the company’s stock worth $3,105,000 after acquiring an additional 80,839 shares during the period.

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.