SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) announced a monthly dividend on Thursday, November 1st, Wall Street Journal reports. Shareholders of record on Friday, November 2nd will be given a dividend of 0.20 per share on Wednesday, November 7th. This represents a $2.40 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Thursday, November 1st.
PSK opened at $41.45 on Friday. SPDR Wells Fargo Preferred Stock ETF has a 12-month low of $40.94 and a 12-month high of $45.19.
A hedge fund recently bought a new stake in SPDR Wells Fargo Preferred Stock ETF stock. Bank of New York Mellon Corp bought a new position in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,528 shares of the company’s stock, valued at approximately $414,000. Bank of New York Mellon Corp owned 0.06% of SPDR Wells Fargo Preferred Stock ETF at the end of the most recent reporting period.
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.
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