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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Friday . Approximately 458,375 shares changed hands during mid-day trading, an increase of 87% from the previous session’s volume of 244,637 shares.The stock last traded at $33.89 and had previously closed at $33.56.

SPDR ICE Preferred Securities ETF Price Performance

The company’s fifty day moving average is $34.14 and its 200-day moving average is $34.51.

Institutional Investors Weigh In On SPDR ICE Preferred Securities ETF

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC bought a new stake in SPDR ICE Preferred Securities ETF during the 3rd quarter worth approximately $31,000. Matrix Trust Co bought a new stake in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter valued at $68,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of SPDR ICE Preferred Securities ETF by 98.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,450 shares of the company’s stock valued at $159,000 after purchasing an additional 2,203 shares during the period. Clear Creek Financial Management LLC purchased a new position in shares of SPDR ICE Preferred Securities ETF during the 3rd quarter valued at $232,000. Finally, Hilton Capital Management LLC boosted its holdings in SPDR ICE Preferred Securities ETF by 20.3% in the 3rd quarter. Hilton Capital Management LLC now owns 10,275 shares of the company’s stock worth $366,000 after buying an additional 1,735 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.