Redmont Wealth Advisors LLC Has $4.07 Million Holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Redmont Wealth Advisors LLC lifted its stake in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,554 shares of the company’s stock after purchasing an additional 3,195 shares during the quarter. iShares Preferred and Income Securities ETF comprises 7.0% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Redmont Wealth Advisors LLC’s holdings in iShares Preferred and Income Securities ETF were worth $4,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. First Interstate Bank lifted its stake in shares of iShares Preferred and Income Securities ETF by 0.6% in the third quarter. First Interstate Bank now owns 1,651,210 shares of the company’s stock valued at $54,870,000 after buying an additional 10,148 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of iShares Preferred and Income Securities ETF by 7.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,465,402 shares of the company’s stock worth $48,695,000 after acquiring an additional 104,770 shares during the last quarter. JPMorgan Chase & Co. lifted its position in iShares Preferred and Income Securities ETF by 51.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,453,930 shares of the company’s stock valued at $48,314,000 after acquiring an additional 491,005 shares in the last quarter. Hilton Capital Management LLC boosted its stake in iShares Preferred and Income Securities ETF by 19.9% during the 3rd quarter. Hilton Capital Management LLC now owns 1,444,743 shares of the company’s stock valued at $48,009,000 after purchasing an additional 239,661 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in iShares Preferred and Income Securities ETF by 4.4% during the 3rd quarter. Greenleaf Trust now owns 1,034,411 shares of the company’s stock worth $34,373,000 after purchasing an additional 43,619 shares in the last quarter. 4.70% of the stock is currently owned by institutional investors and hedge funds.

iShares Preferred and Income Securities ETF Stock Down 0.4 %

PFF stock opened at $31.99 on Thursday. The firm has a market capitalization of $14.78 billion, a PE ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a twelve month low of $30.56 and a twelve month high of $33.59. The stock’s 50 day moving average is $32.04 and its 200-day moving average is $32.35.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.1767 per share. This represents a $2.12 dividend on an annualized basis and a yield of 6.63%. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.17. The ex-dividend date was Wednesday, December 18th.

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.