Global X U.S. Preferred ETF (NYSEARCA:PFFD) Hits New 1-Year Low – Should You Sell?

Global X U.S. Preferred ETF (NYSEARCA:PFFD) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $19.01 and last traded at $19.01, with a volume of 389 shares changing hands. The stock had previously closed at $19.60.

Global X U.S. Preferred ETF Stock Down 0.6 %

The company’s 50 day simple moving average is $20.27 and its 200 day simple moving average is $20.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its position in shares of Global X U.S. Preferred ETF by 15.4% during the third quarter. LPL Financial LLC now owns 7,139,593 shares of the company’s stock worth $148,361,000 after purchasing an additional 950,535 shares during the period. Global X Japan Co. Ltd. grew its position in shares of Global X U.S. Preferred ETF by 11.2% in the 3rd quarter. Global X Japan Co. Ltd. now owns 2,699,498 shares of the company’s stock valued at $56,096,000 after purchasing an additional 271,468 shares during the period. Orgel Wealth Management LLC increased its stake in Global X U.S. Preferred ETF by 9.6% during the 3rd quarter. Orgel Wealth Management LLC now owns 2,233,236 shares of the company’s stock worth $46,407,000 after purchasing an additional 195,514 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Global X U.S. Preferred ETF by 13.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,192,082 shares of the company’s stock worth $24,771,000 after buying an additional 140,769 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Global X U.S. Preferred ETF by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,180,014 shares of the company’s stock valued at $23,223,000 after buying an additional 128,462 shares in the last quarter.

Global X U.S. Preferred ETF Company Profile

The Global X U.S. Preferred ETF (PFFD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of US preferred stocks, selected and weighted by market value. PFFD was launched on Sep 11, 2017 and is managed by Global X.