iShares Preferred and Income Securities ETF (NASDAQ:PFF) Sets New 12-Month Low – Here’s What Happened

iShares Preferred and Income Securities ETF (NASDAQ:PFF) reached a new 52-week low during trading on Monday . The company traded as low as $28.70 and last traded at $28.80, with a volume of 1187559 shares. The stock had previously closed at $29.42.

iShares Preferred and Income Securities ETF Stock Down 1.1 %

The stock has a market capitalization of $13.43 billion, a P/E ratio of 3.65 and a beta of 0.51. The firm has a fifty day moving average price of $31.37 and a two-hundred day moving average price of $32.11.

iShares Preferred and Income Securities ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st were paid a $0.1725 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.07 annualized dividend and a dividend yield of 7.12%.

Institutional Investors Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors and hedge funds have recently made changes to their positions in PFF. BNP Paribas Financial Markets bought a new stake in shares of iShares Preferred and Income Securities ETF in the 3rd quarter worth $67,000. Continuum Advisory LLC raised its position in iShares Preferred and Income Securities ETF by 8.2% in the 3rd quarter. Continuum Advisory LLC now owns 6,411 shares of the company’s stock worth $209,000 after buying an additional 484 shares during the last quarter. Sunbelt Securities Inc. raised its position in iShares Preferred and Income Securities ETF by 11.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 42,263 shares of the company’s stock worth $1,404,000 after buying an additional 4,210 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of iShares Preferred and Income Securities ETF by 63.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 42,599 shares of the company’s stock valued at $1,416,000 after acquiring an additional 16,462 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of iShares Preferred and Income Securities ETF by 51.0% in the third quarter. JPMorgan Chase & Co. now owns 1,453,930 shares of the company’s stock worth $48,314,000 after acquiring an additional 491,005 shares during the period. Institutional investors own 4.70% of the company’s stock.

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.