SPDR ICE Preferred Securities ETF
PSK
Market cap $894M

33.31 USD

+0.18

0.54%

At close Dec 20, 4:00 PM EST

1 day

0.54%

5 days

-1.16%

1 month

-2.32%

3 months

-7.34%

6 months

-1.33%

Year to date

-0.69%

1 year

-0.86%

5 years

-24.04%

10 years

-23.34%

0

Funds holding %

of 6,809 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

29% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 17

28% more capital invested

Capital invested by funds: $355M [Q2] → $454M (+$98.8M) [Q3]

20% more repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 49

3% more funds holding

Funds holding: 163 [Q2] → 168 (+5) [Q3]

2.72% more ownership

Funds ownership: 45.65% [Q2] → 48.37% (+2.72%) [Q3]

33% less funds holding in top 10

Funds holding in top 10: 3 [Q2] → 2 (-1) [Q3]

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Research analyst outlook

We haven’t received any recent analyst ratings for PSK.

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Financial journalist opinion

PSK: Lagging Peers In A Lagging Asset Category

SPDR® ICE Preferred Securities ETF strategy focuses on investing in U.S. dollar denominated non-convertible preferred stocks with specific criteria. The PSK ETF portfolio is heavily weighted towards financial companies, with the top 4 issuers being major banks. PSK has underperformed several competitors and experienced a decrease in both distributions and price over 20% in 10 years.

PSK: Lagging Peers In A Lagging Asset Category

Preferreds Weekly Review: Bond Interest Deferral Worries Investors

We take a look at the action in preferreds and baby bonds through the second week of April and highlight some of the key themes we are watching.

Preferreds Weekly Review: Keep An Eye On The Spread Of Floating-Rate Preferreds

We take a look at the action in preferreds and baby bonds through the fourth week of March and highlight some of the key themes we are watching. Preferreds had a good week as Treasury yields fell on the back of the Fed's more dovish than expected stance. We take a look at how stocks with different spreads over SOFR could react to Fed's cuts.

Preferreds Weekly Review: Keep An Eye On The Spread Of Floating-Rate Preferreds

Preferreds Weekly Review: Mandatory Convertibles Offer High-Beta Preferred Exposure

We take a look at the action in preferreds and baby bonds through the third week of March and highlight some of the key themes we are watching. Preferreds were down for the week due to rising Treasury yields, but most preferred CEF sectors remain positive for the month. Albemarle issued a new preferred stock with a mandatory convertible feature, offering upside participation with less downside than the common and a higher coupon.

Preferreds Weekly Review: Mandatory Convertibles Offer High-Beta Preferred Exposure

Preferreds Weekly Review: Historic Drawdowns Are Relevant Again

We take a look at the action in preferreds and baby bonds through the fourth week of February and highlight some of the key themes we are watching. Preferreds had a strong week with a 1%+ return, driven by a drop in Treasury yields and compression in credit spreads. Different preferreds sectors have different drawdown profiles, offering investors an opportunity to tilt to more resilient securities in anticipation of the next drawdown.

U.S. Preferred Stocks Look Attractive And PFFA Is A Top-Performing Preferred Stocks ETF

PFFA is a well-diversified and consistently top-performing preferred stock ETF, enabled by management's bold allocation strategy.

U.S. Preferred Stocks Look Attractive And PFFA Is A Top-Performing Preferred Stocks ETF

Preferreds Weekly Review: A High Yield-To-Call Is Not Enough

We take a look at the action in preferreds and baby bonds through the second week of February and highlight some of the key themes we are watching. Preferreds were flat on the week as higher Treasury yields were offset by tighter credit spreads. A high yield-to-call is not a sufficient reason to buy a given preferred.

Preferreds Weekly Review: AHL Preferred Gets Stuck Near Libor Peak

We take a look at the action in preferreds and baby bonds through the fourth week of January and highlight some of the key themes we are watching. Preferred stock and baby bond market had a good week with most sectors finishing in the green. The article discusses the curious case of Aspen insurer preferred AHL.PR.C and how the coupon conversion worked on the first call date.

PSK: Preferreds Less Attractive In High Yield World Without Capital Appreciation Underneath

Preferred securities have compelling investment characteristics in the right market and portfolio setup. In a world of high yields, higher cost of capital and contracting equity risk premiums, the insulating benefits are less profound. SPDR ICE Preferred Securities ETF has value on the yield side but lacks scope for capital appreciation.

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