VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) Sees Large Volume Increase – Is It Still a Buy?

The VanEck Preferred Securities ex Financials ETF (NYSEARCA:PFXF) experienced a significant spike in trading activity recently. On a noteworthy trading day, about 788,955 shares changed hands during mid-day trading, marking a striking 55% increase compared to the preceding session's volume of 510,320 shares. At the time, the stock price was $17.15, slightly down from the previous closing price of $17.21.

Stock Performance of VanEck Preferred Securities ex Financials ETF

PFXF has shown a price performance influenced by its moving averages; the 50-day moving average stands at $17.90, while the 200-day moving average is at $17.76. In terms of market metrics, PFXF holds a market capitalization of $1.60 billion, a price-to-earnings ratio of 0.59, and a beta of 0.51, indicating relatively low volatility compared to the overall market.

Institutional Interest in PFXF

Recent changes in holdings by institutional investors and hedge funds suggest a growing interest in the VanEck Preferred Securities ex Financials ETF. B. Riley Wealth Advisors Inc. increased its investment in PFXF by 40.0% in the most recent quarter, now holding 63,215 shares valued at approximately $1,155,000 after acquiring an additional 18,065 shares. Sanctuary Advisors LLC also raised its position by 16.5%, bringing its total to 99,719 shares worth around $1,797,000. Similarly, MML Investors Services LLC expanded its stake by 19.7%, now controlling 951,891 shares valued at approximately $17,382,000 after purchasing an additional 156,434 shares. Other notable investors, including Insigneo Advisory Services LLC and Stifel Financial Corp, also increased their holdings significantly during the same period.

About the VanEck Preferred Securities ex Financials ETF

The VanEck Preferred Securities ex Financials ETF, or PFXF, is designed to primarily invest in broad credit fixed income. This fund tracks an index of USD-denominated preferred securities, purposely excluding those issued by financial firms to limit exposure to the financial sector.

ETF, Investing, Finance