Stronghold Wealth Management L.L.C. Makes New $1.92 Million Investment in iShares Preferred and Income Securities ETF $PFF

Stronghold Wealth Management L.L.C. acquired a new position in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 61,852 shares of the company’s stock, valued at approximately $1,915,000. iShares Preferred and Income Securities ETF comprises approximately 2.8% of Stronghold Wealth Management L.L.C.’s investment portfolio, making the stock its 5th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of iShares Preferred and Income Securities ETF during the third quarter worth about $33,000. Resources Management Corp CT ADV purchased a new position in shares of iShares Preferred and Income Securities ETF during the second quarter worth about $80,000. WFA of San Diego LLC purchased a new position in shares of iShares Preferred and Income Securities ETF during the second quarter worth about $83,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of iShares Preferred and Income Securities ETF during the fourth quarter worth about $85,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of iShares Preferred and Income Securities ETF during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Performance

Shares of PFF stock opened at $31.23 on Monday. The stock’s 50-day moving average is $31.01 and its two-hundred day moving average is $31.18. The firm has a market cap of $13.85 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.

iShares Preferred and Income Securities ETF Cuts Dividend

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

iShares Preferred and Income Securities ETF Profile

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).