VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Reaches New 1-Year Low – Time to Sell?

by · The Markets Daily

VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF – Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $16.93 and last traded at $17.01, with a volume of 744,569 shares trading hands. The stock had previously closed at $16.98.

VanEck Preferred Securities ex Financials ETF Stock Down 0.6%

The firm’s 50-day moving average price is $17.69 and its 200 day moving average price is $18.00. The firm has a market cap of $2.25 billion, a P/E ratio of 0.59 and a beta of 0.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brookstone Capital Management raised its holdings in shares of VanEck Preferred Securities ex Financials ETF by 123.9% during the third quarter. Brookstone Capital Management now owns 99,761 shares of the company’s stock valued at $1,748,000 after buying an additional 55,200 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of VanEck Preferred Securities ex Financials ETF during the third quarter worth approximately $180,000. Measured Risk Portfolios Inc. boosted its position in shares of VanEck Preferred Securities ex Financials ETF by 6.2% during the third quarter. Measured Risk Portfolios Inc. now owns 133,876 shares of the company’s stock worth $2,346,000 after buying an additional 7,832 shares during the period. Parkway Wealth Management Group LLC grew its holdings in VanEck Preferred Securities ex Financials ETF by 2.4% in the 3rd quarter. Parkway Wealth Management Group LLC now owns 839,267 shares of the company’s stock worth $14,704,000 after buying an additional 19,894 shares in the last quarter. Finally, Altium Investment Strategies LLC boosted its position in VanEck Preferred Securities ex Financials ETF by 2.2% during the 3rd quarter. Altium Investment Strategies LLC now owns 28,012 shares of the company’s stock worth $492,000 after acquiring an additional 600 shares during the period.

VanEck Preferred Securities ex Financials ETF Company Profile

(Get Free Report)

The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. PFXF was launched on Jul 16, 2012 and is managed by VanEck.

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