Independent Advisor Alliance Invests $219,000 in SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)

Independent Advisor Alliance purchased a new stake in SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,653 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds also recently added to or reduced their stakes in PSK. Rialto Wealth Management LLC acquired a new position in shares of SPDR ICE Preferred Securities ETF in the 4th quarter valued at $36,000. Elevation Capital Advisory LLC acquired a new stake in SPDR ICE Preferred Securities ETF during the 4th quarter worth $2,889,000. Raymond James Financial Inc. purchased a new stake in SPDR ICE Preferred Securities ETF in the fourth quarter valued at $7,704,000. NewSquare Capital LLC boosted its stake in SPDR ICE Preferred Securities ETF by 0.4% in the fourth quarter. NewSquare Capital LLC now owns 228,226 shares of the company’s stock valued at $7,529,000 after acquiring an additional 925 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 988.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,313 shares of the company’s stock worth $571,000 after purchasing an additional 15,722 shares during the last quarter.

SPDR ICE Preferred Securities ETF Price Performance

SPDR ICE Preferred Securities ETF stock opened at $33.15 on Thursday. SPDR ICE Preferred Securities ETF has a fifty-two week low of $32.30 and a fifty-two week high of $36.06. The stock has a 50-day simple moving average of $33.28 and a 200-day simple moving average of $34.20.

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.