The SPDR Wells Fargo Preferred Stock ETF (AMEX:PSK) is seeing unusually high volume in afternoon trading Friday, with over 470,000 shares traded versus three month average volume of about 81,000. Shares of PSK were off about 0.2% on the day.
Components of that ETF with the highest volume on Friday were Southern (NYSE:SOJC), trading off about 0.5% with over 533,000 shares changing hands so far this session, and AT&T 5.350% Global Notes Due 2066 (NYSE:TBB), down about 0.9% on volume of over 202,000 shares. Alabama Power 5.00% Preferred Stock (NYSE:ALP.PRQ) is the component faring the best Friday, up by about 0.8% on the day, while Southern California Edison 5.375% (NYSE:SCE.PRJ) is lagging other components of the SPDR Wells Fargo Preferred Stock ETF, trading lower by about 2.1%.
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