Flows Coverage: SPDR Wells Fargo Preferred Stock ETF (PSK) Declines 0.02% for Nov 23

November 23, 2016 - By Darrin Black   ·   0 Comments

Nov 23 is a negative day so far for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) as the ETF is active during the day after losing 0.02% to hit $43.21 per share. The exchange traded fund has 546.64 million net assets and 0.83% volatility this month.

Over the course of the day 7,933 shares traded hands, as compared to an average volume of 101,180 over the last 30 days for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK).

The ETF is -10.43% of its 52-Week High and 1.55% of its low, and is currently having ATR of 0.41. This year’s performance is -4.44% while this quarter’s performance is -7.60%.

The ETF’s YTD performance is 4.46%, the 1 year is 6.28% and the 3 year is 9%.

The fund’s top holdings are: Pnc Finl Svcs Grp Pfd for 2.11% of assets, Hsbc Hldgs Pfd for 1.51%, Bb&T Pfd for 1.48%, Ing Groep NV Perpetual Debt Sec for 1.42%, Us Bancorp Del Pfd for 1.38%, Ing Groep N V Pfd for 1.34%, Southern for 1.33%, Aegon N V Pfd for 1.27%. The ETF sector weights are: Financial Services 64.19%, Realestate 3.25%, Utilities 25.16%, Communication Services 3.02%, Industrials 4.38%. The ETF currently as 5.53% yield.

Another recent and important SPDR Wells Fargo Prfd Stk ETF (NYSEARCA:PSK) news was published by Benzinga.com which published an article titled: “Peeking In On Another Preferred ETF” on May 31, 2016.

SPDR Wells Fargo Preferred Stock ETF seeks to replicate the total return of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the Index). The ETF has a market cap of $546.64 million. 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. It currently has negative earnings. In addition, the Fund may invest in securities that are not included in the Index, futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds.

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By Darrin Black

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