Carret Asset Management LLC Buys 22,022 Shares of iShares Preferred and Income Securities ETF $PFF

Carret Asset Management LLC bought a new position in iShares Preferred and Income Securities ETF (NASDAQ:PFF) in the third quarter, Holdings Channel.com reports. The firm bought 22,022 shares of the company’s stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC lifted its position in iShares Preferred and Income Securities ETF by 2,833.3% during the 2nd quarter. Roxbury Financial LLC now owns 1,408 shares of the company’s stock worth $43,000 after acquiring an additional 1,360 shares during the period. NBH Bank purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter valued at about $46,000. First Bancorp Inc ME purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter valued at about $47,000. Payden & Rygel acquired a new position in shares of iShares Preferred and Income Securities ETF in the third quarter valued at about $50,000. Finally, Ascentis Independent Advisors acquired a new position in shares of iShares Preferred and Income Securities ETF in the first quarter valued at about $59,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Performance

Shares of PFF stock opened at $28.60 on Tuesday. iShares Preferred and Income Securities ETF has a fifty-two week low of $28.06 and a fifty-two week high of $32.02. The firm has a market capitalization of $11.67 billion, a PE ratio of 3.71 and a beta of 0.55. The stock’s 50-day simple moving average is $29.39 and its 200-day simple moving average is $30.60.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, November 5th. Investors of record on Monday, November 2nd were given a $0.1761 dividend. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.1594. This represents a $2.11 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Monday, November 2nd.

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. 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).