Truist Financial Corp Sells 64,034 Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK)

Truist Financial Corp lowered its stake in shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) by 32.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,319 shares of the company’s stock after selling 64,034 shares during the quarter. Truist Financial Corp owned 0.51% of SPDR ICE Preferred Securities ETF worth $4,395,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PSK. PFS Investments Inc. grew its stake in SPDR ICE Preferred Securities ETF by 5.7% in the 4th quarter. PFS Investments Inc. now owns 938,178 shares of the company’s stock valued at $30,791,000 after purchasing an additional 50,693 shares during the period. State of Wisconsin Board of Commissioners of Public Lands bought a new position in shares of SPDR ICE Preferred Securities ETF during the 1st quarter worth $28,458,000. Flputnam Investment Management Co. grew its stake in shares of SPDR ICE Preferred Securities ETF by 4.6% during the 1st quarter. Flputnam Investment Management Co. now owns 809,831 shares of the company’s stock worth $27,502,000 after acquiring an additional 35,683 shares during the period. Wells Fargo & Company MN grew its stake in shares of SPDR ICE Preferred Securities ETF by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 632,881 shares of the company’s stock worth $20,771,000 after acquiring an additional 94,801 shares during the period. Finally, LPL Financial LLC grew its stake in shares of SPDR ICE Preferred Securities ETF by 23.1% during the 1st quarter. LPL Financial LLC now owns 615,773 shares of the company’s stock worth $20,912,000 after acquiring an additional 115,686 shares during the period.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target on shares of SPDR ICE Preferred Securities ETF in a research note on Tuesday, October 24th.

SPDR ICE Preferred Securities ETF Trading Down 0.4 %

Shares of PSK opened at $30.47 on Monday. The stock has a 50-day moving average price of $31.97 and a 200-day moving average price of $32.86. SPDR ICE Preferred Securities ETF has a 12-month low of $29.91 and a 12-month high of $37.06.

SPDR ICE Preferred Securities ETF 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.