Raymond James & Associates Buys 4,388 Shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

Raymond James & Associates lifted its stake in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,707 shares of the company’s stock after acquiring an additional 4,388 shares during the period. Raymond James & Associates owned approximately 0.33% of SPDR Wells Fargo Preferred Stock ETF worth $4,204,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSK. First Trust Advisors LP bought a new position in SPDR Wells Fargo Preferred Stock ETF in the second quarter valued at $4,417,000. Creative Planning acquired a new stake in SPDR Wells Fargo Preferred Stock ETF in the second quarter valued at $860,000. Allworth Financial LP lifted its stake in SPDR Wells Fargo Preferred Stock ETF by 2.5% in the second quarter. Allworth Financial LP now owns 515,609 shares of the company’s stock valued at $21,578,000 after acquiring an additional 12,694 shares during the last quarter. Mechanics Bank Trust Department lifted its stake in SPDR Wells Fargo Preferred Stock ETF by 1.9% in the second quarter. Mechanics Bank Trust Department now owns 131,769 shares of the company’s stock valued at $5,514,000 after acquiring an additional 2,414 shares during the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV lifted its stake in SPDR Wells Fargo Preferred Stock ETF by 27.6% in the second quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 14,475 shares of the company’s stock valued at $606,000 after acquiring an additional 3,129 shares during the last quarter.

Shares of PSK stock opened at $44.09 on Friday. The company has a fifty day moving average price of $43.63 and a two-hundred day moving average price of $42.89. SPDR Wells Fargo Preferred Stock ETF has a one year low of $28.83 and a one year high of $44.71.

SPDR Wells Fargo Preferred Stock 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.

See Also: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

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