Whittier Trust Co. of Nevada Cuts Position in Global X U.S. Preferred ETF

In a significant move during the fourth quarter, Whittier Trust Co. of Nevada Inc. substantially reduced its investment in the Global X U.S. Preferred ETF, a fund trading under the ticker symbol NYSEARCA:PFFD. The firm sold off 5,126 shares, which represented a 51.1% decrease in their holdings, leaving them with 4,912 shares in this preferred stock fund. This sale altered Whittier Trust Co.'s investment value in the ETF to about $95,000.

Investment Shifts Among Funds

Whittier Trust was not the only entity making moves with the PFFD. Various other investors and funds have been active in adjusting their positions. For example, Sheets Smith Wealth Management initiated a stake worth about $29,000 in the third quarter. Similarly, during the same period, Venturi Wealth Management LLC chose to invest approximately $54,000 for a new position in the ETF.

Other noteworthy transactions include Financial Gravity Asset Management Inc. increasing its stake by 1,449.5%, which brought its total shares to 1,596, valued at around $30,000 after adding 1,493 shares. Milestone Investment Advisors LLC doubled its investment in the first quarter by acquiring an additional 903 shares, taking its total to 1,811 shares valued at $36,000. Furthermore, Money Concepts Capital Corp saw a notable expansion of its holdings by 1,651.8%, ending with 3,416 shares estimated at $66,000 after the purchase of an extra 3,221 shares in the fourth quarter.

Global X U.S. Preferred ETF Performance

The market witnessed the PFFD shares starting at $20.33 on a recent trading day. Over previous periods, the ETF has demonstrated fluctuations with a 50-day moving average of $19.99 and a longer 200-day moving average at $19.21. Global X U.S. Preferred ETF has enjoyed peaks and valleys, having reached a 12-month high of $20.43 and sinking to a 12-month low of $17.37.

About Global X U.S. Preferred ETF

Focused on broad credit fixed income assets, the Global X U.S. Preferred ETF comprises predominantly U.S. preferred stocks. With a market-value-weighted approach to its index, the fund has been designed to reflect the performance of this specific financial market. PFFD made its debut on September 11, 2017, and has been under the management of Global X since then.

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