Strategic Wealth Partners Ltd. Grows Holdings in SPDR Wells Fargo Preferred Stock ETF (PSK)

Strategic Wealth Partners Ltd. boosted its position in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 90.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,040 shares of the company’s stock after acquiring an additional 48,585 shares during the period. SPDR Wells Fargo Preferred Stock ETF accounts for about 2.3% of Strategic Wealth Partners Ltd.’s investment portfolio, making the stock its 5th largest position. Strategic Wealth Partners Ltd.’s holdings in SPDR Wells Fargo Preferred Stock ETF were worth $4,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSK. Charles Schwab Investment Advisory Inc. raised its position in shares of SPDR Wells Fargo Preferred Stock ETF by 1.3% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 1,459,246 shares of the company’s stock valued at $63,433,000 after buying an additional 18,329 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of SPDR Wells Fargo Preferred Stock ETF by 87.3% during the third quarter. Mackenzie Financial Corp now owns 910,309 shares of the company’s stock valued at $38,806,000 after buying an additional 424,282 shares during the last quarter. Morgan Stanley raised its position in shares of SPDR Wells Fargo Preferred Stock ETF by 26.2% during the third quarter. Morgan Stanley now owns 402,572 shares of the company’s stock valued at $17,162,000 after buying an additional 83,659 shares during the last quarter. Gradient Investments LLC bought a new stake in shares of SPDR Wells Fargo Preferred Stock ETF during the second quarter valued at approximately $15,202,000. Finally, Chessman Wealth Strategies RIA bought a new stake in shares of SPDR Wells Fargo Preferred Stock ETF during the third quarter valued at approximately $10,313,000.

Shares of SPDR Wells Fargo Preferred Stock ETF stock traded down $0.25 on Thursday, hitting $39.77. 52,426 shares of the company traded hands, compared to its average volume of 97,543. SPDR Wells Fargo Preferred Stock ETF has a 52 week low of $39.85 and a 52 week high of $45.19.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, December 4th will be given a dividend of $0.20 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Monday, December 3rd.

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About SPDR Wells Fargo Preferred Stock ETF

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.

Further Reading: Should you buy a closed-end mutual fund?

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

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