Mount Lucas Management LP Trims Stock Position in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Mount Lucas Management LP cut its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 56.1% during the first quarter, HoldingsChannel reports. The fund owned 37,173 shares of the company’s stock after selling 47,453 shares during the period. Mount Lucas Management LP’s holdings in iShares Preferred and Income Securities ETF were worth $1,142,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of iShares Preferred and Income Securities ETF by 4,002.9% in the first quarter. GAMMA Investing LLC now owns 5,901,020 shares of the company’s stock valued at $192,028,000 after buying an additional 5,757,195 shares in the last quarter. JPMorgan Chase & Co. grew its position in iShares Preferred and Income Securities ETF by 42.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,071,639 shares of the company’s stock valued at $65,132,000 after acquiring an additional 617,709 shares in the last quarter. Greenleaf Trust grew its position in iShares Preferred and Income Securities ETF by 4.8% in the 1st quarter. Greenleaf Trust now owns 1,137,401 shares of the company’s stock valued at $34,952,000 after acquiring an additional 52,105 shares in the last quarter. Baird Financial Group Inc. increased its stake in iShares Preferred and Income Securities ETF by 1.7% during the fourth quarter. Baird Financial Group Inc. now owns 858,762 shares of the company’s stock worth $26,999,000 after purchasing an additional 14,180 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of iShares Preferred and Income Securities ETF by 1.7% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 738,196 shares of the company’s stock worth $23,209,000 after purchasing an additional 12,008 shares in the last quarter. 4.70% of the stock is currently owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Stock Performance

Shares of PFF stock opened at $31.15 on Wednesday. iShares Preferred and Income Securities ETF has a fifty-two week low of $28.70 and a fifty-two week high of $33.59. The company has a 50 day moving average price of $30.53 and a 200 day moving average price of $30.80. The stock has a market capitalization of $14.17 billion, a P/E ratio of 3.71 and a beta of 0.51.

iShares Preferred and Income Securities ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, July 1st were paid a $0.1737 dividend. This is a boost from iShares Preferred and Income Securities ETF’s previous dividend of $0.17. The ex-dividend date was Tuesday, July 1st.

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.