iShares Preferred and Income Securities ETF (NASDAQ:PFF) Sets New 1-Year Low – Here’s Why

iShares Preferred and Income Securities ETF (NASDAQ:PFF)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $30.10 and last traded at $30.1150, with a volume of 1839641 shares trading hands. The stock had previously closed at $30.44.

iShares Preferred and Income Securities ETF Stock Down 1.1%

The firm’s fifty day moving average price is $30.52 and its 200-day moving average price is $30.93. The stock has a market cap of $13.02 billion, a P/E ratio of 3.71 and a beta of 0.53.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, September 4th. Shareholders of record on Tuesday, September 1st will be issued a $0.1472 dividend. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 5.9%.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

Hedge funds have recently modified their holdings of the company. Compass Financial Management LLC bought a new position in shares of iShares Preferred and Income Securities ETF during the second quarter valued at about $4,351,000. NBH Bank bought a new stake in shares of iShares Preferred and Income Securities ETF in the second quarter worth about $46,000. Aventus Investment Advisors Inc. grew its stake in shares of iShares Preferred and Income Securities ETF by 1.8% in the second quarter. Aventus Investment Advisors Inc. now owns 49,599 shares of the company’s stock worth $1,512,000 after purchasing an additional 890 shares during the last quarter. First Bancorp Inc ME purchased a new position in iShares Preferred and Income Securities ETF during the 2nd quarter valued at about $47,000. Finally, Capital Square LLC purchased a new position in iShares Preferred and Income Securities ETF during the 2nd quarter valued at about $5,828,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Company 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).