SNS Financial Group LLC trimmed its holdings in shares of SPDR Wells Fargo Prfd Stk ETF (NYSEARCA:PSK) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,237 shares of the company’s stock after selling 1,195 shares during the quarter. SNS Financial Group LLC’s holdings in SPDR Wells Fargo Prfd Stk ETF were worth $1,023,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of PSK. Charles Schwab Investment Advisory Inc. increased its holdings in SPDR Wells Fargo Prfd Stk ETF by 19.0% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 1,085,414 shares of the company’s stock valued at $48,518,000 after buying an additional 173,300 shares during the period. Allegis Investment Advisors LLC purchased a new position in SPDR Wells Fargo Prfd Stk ETF during the fourth quarter valued at approximately $2,526,000. Comerica Bank purchased a new position in SPDR Wells Fargo Prfd Stk ETF during the fourth quarter valued at approximately $2,444,000. Jane Street Group LLC purchased a new position in SPDR Wells Fargo Prfd Stk ETF during the third quarter valued at approximately $1,572,000. Finally, Gradient Investments LLC purchased a new position in SPDR Wells Fargo Prfd Stk ETF during the fourth quarter valued at approximately $1,239,000.
Separately, AltaCorp Capital reissued a “hold” rating and set a $36.00 price objective on shares of SPDR Wells Fargo Prfd Stk ETF in a report on Monday, January 15th.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Friday, February 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.80 annualized dividend and a yield of 1.88%.
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SPDR Wells Fargo Prfd Stk ETF Company 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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