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

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) saw unusually-strong trading volume on Friday . Approximately 227,025 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 132,460 shares.The stock last traded at $32.86 and had previously closed at $32.91.

SPDR ICE Preferred Securities ETF Stock Performance

The business has a 50 day moving average price of $34.39 and a two-hundred day moving average price of $34.53.

Hedge Funds Weigh In On SPDR ICE Preferred Securities ETF

A number of hedge funds have recently modified their holdings of the company. Crestwood Advisors Group LLC raised its stake in SPDR ICE Preferred Securities ETF by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 22,821 shares of the company’s stock valued at $814,000 after buying an additional 417 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of SPDR ICE Preferred Securities ETF in the third quarter worth $31,000. JPMorgan Chase & Co. increased its position in SPDR ICE Preferred Securities ETF by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 64,122 shares of the company’s stock valued at $2,287,000 after acquiring an additional 882 shares during the last quarter. Financial Advocates Investment Management boosted its position in SPDR ICE Preferred Securities ETF by 13.4% in the second quarter. Financial Advocates Investment Management now owns 10,488 shares of the company’s stock worth $356,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of SPDR ICE Preferred Securities ETF by 1.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 124,411 shares of the company’s stock valued at $4,221,000 after purchasing an additional 1,367 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.