iShares Preferred and Income Securities ETF (NASDAQ:PFF) Reaches New 12-Month Low – Here’s What Happened

iShares Preferred and Income Securities ETF (NASDAQ:PFF) shares reached a new 52-week low during trading on Tuesday. The stock traded as low as $28.82 and last traded at $28.84, with a volume of 3,227,532 shares traded. The stock had previously closed at $28.86.

iShares Preferred and Income Securities ETF Trading Down 0.1%

The stock has a market capitalization of $11.94 billion, a P/E ratio of 3.71 and a beta of 0.54. The company has a 50-day moving average price of $30.00 and a 200 day moving average price of $30.60.

iShares Preferred and Income Securities ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were paid a $0.1594 dividend. This represents a $1.91 annualized dividend and a yield of 6.6%. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.1472. The ex-dividend date was Thursday, October 1st.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

A number of large investors have recently added to or reduced their stakes in the company. Delta Capital Management LLC purchased a new stake in shares of iShares Preferred and Income Securities ETF during the third quarter valued at about $497,000. Lodestone Wealth Management LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 17.2% in the 3rd quarter. Lodestone Wealth Management LLC now owns 2,376 shares of the company’s stock valued at $70,000 after buying an additional 348 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 6.5% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 17,083 shares of the company’s stock valued at $504,000 after buying an additional 1,048 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 174.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 81,528 shares of the company’s stock valued at $2,405,000 after buying an additional 51,848 shares in the last quarter. Finally, Bath Savings Trust Co purchased a new position in shares of iShares Preferred and Income Securities ETF in the 3rd quarter worth approximately $1,026,000. 4.70% of the stock is currently owned by institutional investors.

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).