Redmont Wealth Advisors LLC Sells 37,571 Shares of iShares Preferred and Income Securities ETF $PFF

Redmont Wealth Advisors LLC decreased its holdings in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 34.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,472 shares of the company’s stock after selling 37,571 shares during the quarter. iShares Preferred and Income Securities ETF makes up approximately 3.3% of Redmont Wealth Advisors LLC’s holdings, making the stock its 7th biggest holding. Redmont Wealth Advisors LLC’s holdings in iShares Preferred and Income Securities ETF were worth $2,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. lifted its stake in iShares Preferred and Income Securities ETF by 16.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 12,613 shares of the company’s stock valued at $390,000 after buying an additional 1,772 shares during the last quarter. Payden & Rygel bought a new stake in iShares Preferred and Income Securities ETF in the fourth quarter valued at $61,000. Stronghold Wealth Management L.L.C. bought a new stake in iShares Preferred and Income Securities ETF in the fourth quarter valued at $1,915,000. Western Wealth Management LLC lifted its stake in iShares Preferred and Income Securities ETF by 23.6% in the fourth quarter. Western Wealth Management LLC now owns 17,992 shares of the company’s stock valued at $557,000 after buying an additional 3,435 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in iShares Preferred and Income Securities ETF by 19.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,933 shares of the company’s stock valued at $865,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Performance

PFF stock opened at $30.97 on Wednesday. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 3.71 and a beta of 0.53. iShares Preferred and Income Securities ETF has a 1 year low of $29.86 and a 1 year high of $32.26. The stock’s fifty day moving average is $31.01 and its two-hundred day moving average is $31.17.

iShares Preferred and Income Securities ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Friday, May 1st were given a dividend of $0.1403 per share. The ex-dividend date was Friday, May 1st. This represents a c) annualized dividend and a dividend yield of 5.4%.

About iShares Preferred and Income Securities ETF

iShares U.S. Preferred Stock ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results, which correspond to the price and yield performance, before fees and expenses, of the S&P U.S. Preferred Stock Index (the Underlying Index). The Underlying Index measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (NYSE), NYSE Arca, Inc (NYSE Arca), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The Underlying Index includes preferred stocks with a market capitalization over $100 million, which meet minimum price, liquidity, trading volume, maturity and other requirements determined by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw Hill Companies (S&P).