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

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-high trading volume on Friday . Approximately 285,817 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 176,080 shares.The stock last traded at $33.09 and had previously closed at $33.14.

SPDR ICE Preferred Securities ETF Stock Down 0.5 %

The firm’s 50 day moving average is $33.34 and its two-hundred day moving average is $34.32.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of SPDR ICE Preferred Securities ETF by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,122 shares of the company’s stock worth $2,287,000 after buying an additional 882 shares during the last quarter. SK Wealth Management LLC acquired a new position in shares of SPDR ICE Preferred Securities ETF in the third quarter valued at about $1,217,000. XML Financial LLC increased its position in SPDR ICE Preferred Securities ETF by 25.4% during the fourth quarter. XML Financial LLC now owns 32,641 shares of the company’s stock worth $1,077,000 after acquiring an additional 6,602 shares during the period. Prospera Financial Services Inc raised its stake in SPDR ICE Preferred Securities ETF by 1,293.2% in the 3rd quarter. Prospera Financial Services Inc now owns 87,090 shares of the company’s stock worth $3,105,000 after purchasing an additional 80,839 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in SPDR ICE Preferred Securities ETF in the 3rd quarter valued at about $520,000.

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.