Sonata Capital Group Inc. Sells 1,110 Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Sonata Capital Group Inc. reduced its stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 21,663 shares of the company’s stock after selling 1,110 shares during the quarter. Sonata Capital Group Inc.’s holdings in iShares Preferred and Income Securities ETF were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Viewpoint Capital Management LLC bought a new position in shares of iShares Preferred and Income Securities ETF during the 2nd quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in iShares Preferred and Income Securities ETF during the second quarter valued at $43,000. First PREMIER Bank bought a new position in iShares Preferred and Income Securities ETF during the third quarter valued at $53,000. Eastern Bank purchased a new position in shares of iShares Preferred and Income Securities ETF in the 3rd quarter worth $71,000. Finally, Bogart Wealth LLC increased its holdings in shares of iShares Preferred and Income Securities ETF by 13.3% in the 3rd quarter. Bogart Wealth LLC now owns 4,025 shares of the company’s stock worth $134,000 after buying an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Price Performance

Shares of NASDAQ PFF traded up $0.16 during mid-day trading on Friday, hitting $33.16. 1,121,180 shares of the company’s stock traded hands, compared to its average volume of 3,990,522. The company has a market capitalization of $15.41 billion, a P/E ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a 1 year low of $29.40 and a 1 year high of $33.59. The company’s 50-day moving average is $33.03 and its two-hundred day moving average is $32.11.

iShares Preferred and Income Securities ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, November 1st were issued a dividend of $0.1653 per share. This represents a $1.98 annualized dividend and a yield of 5.98%. The ex-dividend date was Friday, November 1st. This is a positive change from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.16.

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.