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

iShares Preferred and Income Securities ETF (NASDAQ:PFF) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $29.97 and last traded at $30.0140, with a volume of 420581 shares trading hands. The stock had previously closed at $30.18.

iShares Preferred and Income Securities ETF Stock Up 0.6%

The company’s 50-day simple moving average is $30.46 and its 200 day simple moving average is $30.85. The company has a market capitalization of $13.05 billion, a P/E ratio of 3.71 and a beta of 0.53.

iShares Preferred and Income Securities ETF Increases Dividend

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

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors have recently bought and sold shares of the stock. Keynote Financial Services LLC boosted its stake in shares of iShares Preferred and Income Securities ETF by 160.9% during the 4th quarter. Keynote Financial Services LLC now owns 45,620 shares of the company’s stock worth $1,412,000 after acquiring an additional 28,132 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of iShares Preferred and Income Securities ETF by 32.1% in the 1st quarter. Bessemer Group Inc. now owns 132,563 shares of the company’s stock valued at $4,019,000 after acquiring an additional 32,230 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new position in shares of iShares Preferred and Income Securities ETF in the 2nd quarter valued at approximately $1,153,000. Compass Financial Management LLC acquired a new stake in iShares Preferred and Income Securities ETF in the 2nd quarter worth approximately $4,351,000. Finally, Arkadios Wealth Advisors lifted its holdings in iShares Preferred and Income Securities ETF by 28.1% in the 1st quarter. Arkadios Wealth Advisors now owns 110,844 shares of the company’s stock worth $3,361,000 after purchasing an additional 24,348 shares during the last quarter. 4.70% of the stock is currently owned by institutional investors.

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).