iShares Preferred and Income Securities ETF (NASDAQ:PFF) Reaches New 52-Week Low – Here’s Why

iShares Preferred and Income Securities ETF (NASDAQ:PFF)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $30.10 and last traded at $30.10, with a volume of 3431704 shares. The stock had previously closed at $30.36.

iShares Preferred and Income Securities ETF Stock Performance

The stock has a market cap of $13.13 billion, a P/E ratio of 3.71 and a beta of 0.53. The stock’s fifty day simple moving average is $30.80 and its 200-day simple moving average is $31.11.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were given a $0.1417 dividend. The ex-dividend date was Wednesday, July 1st. This is a positive change 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 dividend yield of 5.7%.

Institutional Investors Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors have recently made changes to their positions in PFF. Brown Brothers Harriman & Co. bought a new position in iShares Preferred and Income Securities ETF during the 3rd quarter worth $33,000. Roxbury Financial LLC grew its holdings in shares of 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 purchasing an additional 1,360 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of iShares Preferred and Income Securities ETF by 36.6% in the first quarter. Princeton Global Asset Management LLC now owns 1,608 shares of the company’s stock worth $49,000 after purchasing an additional 431 shares during the period. Ascentis Independent Advisors bought a new position in shares of iShares Preferred and Income Securities ETF in the first quarter worth $59,000. Finally, Payden & Rygel acquired a new position in iShares Preferred and Income Securities ETF in the fourth quarter valued at about $61,000. 4.70% of the stock is currently owned by institutional investors.

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).