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

Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) reached a new 52-week low on Thursday. The stock traded as low as $28.06 and last traded at $28.0450, with a volume of 3,670,499 shares traded. The stock had previously closed at $28.31.

iShares Preferred and Income Securities ETF Price Performance

The stock has a fifty day simple moving average of $29.31 and a two-hundred day simple moving average of $30.56. The firm has a market capitalization of $11.42 billion, a P/E ratio of 3.71 and a beta of 0.55.

iShares Preferred and Income Securities ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, November 5th. Investors of record on Monday, November 2nd were given a dividend of $0.1761 per share. The ex-dividend date was Monday, November 2nd. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.1594. This represents a $2.11 annualized dividend and a yield of 7.5%.

Institutional Investors Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors have recently made changes to their positions in the stock. Greenleaf Trust bought a new stake in iShares Preferred and Income Securities ETF during the third quarter valued at $20,190,000. Capital Square LLC purchased a new stake in shares of iShares Preferred and Income Securities ETF in the 2nd quarter valued at about $5,828,000. Compass Financial Management LLC purchased a new stake in shares of iShares Preferred and Income Securities ETF in the 2nd quarter valued at about $4,351,000. Bank of Stockton bought a new stake in shares of iShares Preferred and Income Securities ETF during the 3rd quarter valued at about $4,114,000. Finally, White Pine Capital LLC bought a new stake in shares of iShares Preferred and Income Securities ETF during the 3rd quarter valued at about $3,391,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

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).