Envestnet Asset Management Inc. Invests $961,000 in SPDR Wells Fargo Prfd Stk ETF (NYSEARCA:PSK) Stock

Envestnet Asset Management Inc. bought a new position in SPDR Wells Fargo Prfd Stk ETF (NYSEARCA:PSK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,498 shares of the company’s stock, valued at approximately $961,000. Envestnet Asset Management Inc. owned approximately 0.17% of SPDR Wells Fargo Prfd Stk ETF at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP raised its position in shares of SPDR Wells Fargo Prfd Stk ETF by 17.3% during the 3rd quarter. First Trust Advisors LP now owns 12,178 shares of the company’s stock valued at $544,000 after buying an additional 1,793 shares in the last quarter. Tompkins Financial Corp raised its position in shares of SPDR Wells Fargo Prfd Stk ETF by 55.1% during the 3rd quarter. Tompkins Financial Corp now owns 13,880 shares of the company’s stock valued at $620,000 after buying an additional 4,930 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of SPDR Wells Fargo Prfd Stk ETF by 18.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 23,322 shares of the company’s stock valued at $1,043,000 after buying an additional 3,576 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of SPDR Wells Fargo Prfd Stk ETF by 12.3% during the 3rd quarter. Wells Fargo & Company MN now owns 67,383 shares of the company’s stock valued at $3,012,000 after buying an additional 7,380 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in shares of SPDR Wells Fargo Prfd Stk ETF by 1.4% during the 3rd quarter. NewSquare Capital LLC now owns 194,018 shares of the company’s stock valued at $8,445,000 after buying an additional 2,656 shares in the last quarter.

SPDR Wells Fargo Prfd Stk ETF (NYSEARCA PSK) remained flat at $$43.80 during mid-day trading on Thursday. 241,353 shares of the company’s stock traded hands, compared to its average volume of 199,194. SPDR Wells Fargo Prfd Stk ETF has a twelve month low of $42.56 and a twelve month high of $45.44.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Investors of record on Monday, December 18th were issued a dividend of $0.6846 per share. This represents a $2.74 annualized dividend and a dividend yield of 6.25%. The ex-dividend date was Friday, December 15th.

Separately, Scotiabank reaffirmed a “hold” rating and set a $35.00 target price on shares of SPDR Wells Fargo Prfd Stk ETF in a report on Tuesday, October 10th.

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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.

Institutional Ownership by Quarter for SPDR Wells Fargo Prfd Stk ETF (NYSEARCA:PSK)

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