Wavvest Wealth LLC Acquires 51,518 Shares of iShares Preferred and Income Securities ETF $PFF

Wavvest Wealth LLC acquired a new position in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 51,518 shares of the company’s stock, valued at approximately $1,520,000. iShares Preferred and Income Securities ETF comprises approximately 1.2% of Wavvest Wealth LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Compass Financial Management LLC bought a new position in shares of iShares Preferred and Income Securities ETF during the second quarter worth about $4,351,000. Canandaigua National Bank & Trust Co. acquired a new position in iShares Preferred and Income Securities ETF in the second quarter worth about $1,153,000. Montecito Bank & Trust acquired a new position in iShares Preferred and Income Securities ETF in the third quarter worth about $1,073,000. Bessemer Group Inc. grew its stake in iShares Preferred and Income Securities ETF by 32.1% in the first quarter. Bessemer Group Inc. now owns 132,563 shares of the company’s stock worth $4,019,000 after purchasing an additional 32,230 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in iShares Preferred and Income Securities ETF by 28.1% in the first quarter. Arkadios Wealth Advisors now owns 110,844 shares of the company’s stock valued at $3,361,000 after buying an additional 24,348 shares during the last quarter. Institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Down 0.2%

Shares of iShares Preferred and Income Securities ETF stock opened at $28.82 on Thursday. The firm has a market cap of $11.92 billion, a P/E ratio of 3.71 and a beta of 0.54. iShares Preferred and Income Securities ETF has a fifty-two week low of $28.78 and a fifty-two week high of $32.02. The business has a 50-day moving average price of $29.92 and a 200 day moving average price of $30.57.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.1594 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.91 dividend on an annualized basis and a yield of 6.6%. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.1472.

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).