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

Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) reached a new 52-week low during trading on Wednesday . The company traded as low as $29.78 and last traded at $29.83, with a volume of 6651200 shares changing hands. The stock had previously closed at $29.94.

iShares Preferred and Income Securities ETF Price Performance

The firm’s fifty day simple moving average is $30.41 and its 200 day simple moving average is $30.80. The company has a market capitalization of $12.66 billion, a price-to-earnings 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 was paid on Friday, September 4th. Investors of record on Tuesday, September 1st were given 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 was Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 5.9%.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. grew its holdings in shares of iShares Preferred and Income Securities ETF by 12,157.0% during the fourth quarter. Cohen & Steers Inc. now owns 904,077 shares of the company’s stock worth $27,997,000 after purchasing an additional 896,701 shares during the last quarter. Capital Square LLC bought a new position in shares of iShares Preferred and Income Securities ETF in the second quarter valued at about $5,828,000. Compass Financial Management LLC bought a new position in shares of iShares Preferred and Income Securities ETF in the second quarter valued at about $4,351,000. Amicus Financial Advisors LLC acquired a new position in iShares Preferred and Income Securities ETF during the 4th quarter worth about $3,270,000. Finally, Blue Edge Capital LLC acquired a new position in iShares Preferred and Income Securities ETF during the 2nd quarter worth about $2,068,000. 4.70% of the stock is currently owned by hedge funds and other 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).