SPDR Wells Fargo Preferred Stock ETF (PSK) Shares Sold by Gradient Investments LLC

Gradient Investments LLC cut its stake in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 11.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,506 shares of the company’s stock after selling 53,782 shares during the quarter. SPDR Wells Fargo Preferred Stock ETF comprises approximately 1.1% of Gradient Investments LLC’s investment portfolio, making the stock its 18th biggest holding. Gradient Investments LLC owned 2.40% of SPDR Wells Fargo Preferred Stock ETF worth $16,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Evanson Asset Management LLC boosted its holdings in SPDR Wells Fargo Preferred Stock ETF by 2.4% in the fourth quarter. Evanson Asset Management LLC now owns 17,632 shares of the company’s stock valued at $698,000 after purchasing an additional 416 shares during the last quarter. MML Investors Services LLC raised its position in shares of SPDR Wells Fargo Preferred Stock ETF by 3.3% during the 4th quarter. MML Investors Services LLC now owns 17,345 shares of the company’s stock worth $686,000 after purchasing an additional 560 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of SPDR Wells Fargo Preferred Stock ETF during the 4th quarter worth about $32,000. Massmutual Trust Co. FSB ADV raised its position in shares of SPDR Wells Fargo Preferred Stock ETF by 24.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 5,250 shares of the company’s stock worth $208,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new position in shares of SPDR Wells Fargo Preferred Stock ETF during the 4th quarter worth about $43,000.

Shares of PSK traded up $0.01 during mid-day trading on Thursday, hitting $42.65. 1,188 shares of the company were exchanged, compared to its average volume of 108,995. SPDR Wells Fargo Preferred Stock ETF has a 1-year low of $38.53 and a 1-year high of $43.90.

The business also recently declared a monthly dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, April 2nd were given a dividend of $0.20 per share. The ex-dividend date was Monday, April 1st. This represents a $2.40 annualized dividend and a dividend yield of 5.63%.

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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.

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

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