Creative Planning purchased a new stake in shares of SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,316 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in SPDR Wells Fargo Preferred Stock ETF by 41.9% during the third quarter. First Trust Advisors LP now owns 32,209 shares of the company’s stock valued at $1,373,000 after acquiring an additional 9,506 shares in the last quarter. Calamos Advisors LLC purchased a new position in SPDR Wells Fargo Preferred Stock ETF during the third quarter valued at approximately $493,000. Truvestments Capital LLC purchased a new position in SPDR Wells Fargo Preferred Stock ETF during the third quarter valued at approximately $186,000. NewSquare Capital LLC grew its stake in SPDR Wells Fargo Preferred Stock ETF by 10.1% during the third quarter. NewSquare Capital LLC now owns 219,315 shares of the company’s stock valued at $9,349,000 after acquiring an additional 20,155 shares in the last quarter. Finally, Coastline Trust Co grew its stake in SPDR Wells Fargo Preferred Stock ETF by 15.5% during the third quarter. Coastline Trust Co now owns 17,210 shares of the company’s stock valued at $734,000 after acquiring an additional 2,310 shares in the last quarter.

Shares of NYSEARCA:PSK opened at $41.44 on Friday. SPDR Wells Fargo Preferred Stock ETF has a 12 month low of $40.94 and a 12 month high of $45.19.

The company also recently disclosed a monthly dividend, which was paid on Wednesday, November 7th. Investors of record on Friday, November 2nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $2.40 annualized dividend and a yield of 5.79%.

COPYRIGHT VIOLATION WARNING: “Creative Planning Takes Position in SPDR Wells Fargo Preferred Stock ETF (PSK)” was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://theolympiareport.com/2018/11/11/creative-planning-takes-position-in-spdr-wells-fargo-preferred-stock-etf-psk.html.

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.

See Also: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding PSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK).

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

Receive News & Ratings for SPDR Wells Fargo Preferred Stock ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Wells Fargo Preferred Stock ETF and related companies with MarketBeat.com's FREE daily email newsletter.