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

SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw an uptick in trading volume on Monday . 381,526 shares traded hands during mid-day trading, an increase of 83% from the previous session’s volume of 208,161 shares.The stock last traded at $33.13 and had previously closed at $33.20.

SPDR ICE Preferred Securities ETF Stock Performance

The firm’s 50-day simple moving average is $33.59 and its 200-day simple moving average is $34.43.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of SPDR ICE Preferred Securities ETF by 1.4% in the third 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 period. Raymond James & Associates increased its stake in SPDR ICE Preferred Securities ETF by 62.6% in the 3rd quarter. Raymond James & Associates now owns 191,324 shares of the company’s stock worth $6,823,000 after purchasing an additional 73,689 shares during the period. Financial Advocates Investment Management lifted its position in SPDR ICE Preferred Securities ETF by 46.5% in the third quarter. Financial Advocates Investment Management now owns 15,363 shares of the company’s stock valued at $548,000 after purchasing an additional 4,875 shares during the last quarter. SK Wealth Management LLC purchased a new stake in shares of SPDR ICE Preferred Securities ETF during the third quarter valued at approximately $1,217,000. Finally, XML Financial LLC grew its holdings in shares of SPDR ICE Preferred Securities ETF by 25.4% in the fourth quarter. XML Financial LLC now owns 32,641 shares of the company’s stock worth $1,077,000 after purchasing an additional 6,602 shares during the last quarter.

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.