Hanson McClain Inc. Has $20.58 Million Position in SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK)

Hanson McClain Inc. increased its position in SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,376 shares of the company’s stock after buying an additional 24,986 shares during the period. SPDR Wells Fargo Preferred Stock ETF accounts for approximately 0.8% of Hanson McClain Inc.’s investment portfolio, making the stock its 22nd biggest holding. Hanson McClain Inc. owned about 2.47% of SPDR Wells Fargo Preferred Stock ETF worth $20,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. grew its stake in shares of SPDR Wells Fargo Preferred Stock ETF by 6.4% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 16,556 shares of the company’s stock valued at $715,000 after buying an additional 996 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of SPDR Wells Fargo Preferred Stock ETF by 28.7% in the 2nd quarter. ST Germain D J Co. Inc. now owns 125,484 shares of the company’s stock valued at $5,422,000 after buying an additional 28,016 shares during the period. AE Wealth Management LLC acquired a new stake in shares of SPDR Wells Fargo Preferred Stock ETF in the 2nd quarter valued at about $251,000. Destination Wealth Management acquired a new stake in shares of SPDR Wells Fargo Preferred Stock ETF in the 2nd quarter valued at about $28,000. Finally, OLD National Bancorp IN acquired a new stake in shares of SPDR Wells Fargo Preferred Stock ETF in the 2nd quarter valued at about $3,154,000.

Shares of SPDR Wells Fargo Preferred Stock ETF stock traded down $0.24 during mid-day trading on Monday, hitting $43.50. 200 shares of the stock were exchanged, compared to its average volume of 139,736. The firm’s 50-day moving average is $43.39. SPDR Wells Fargo Preferred Stock ETF has a 12 month low of $38.53 and a 12 month high of $43.95.

Several analysts have recently commented on PSK shares. Raymond James restated an “average” rating and issued a $20.50 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, May 24th. GMP Securities restated a “buy” rating and issued a $22.00 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Wednesday, July 24th.

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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