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

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

iShares Preferred and Income Securities ETF Trading Up 1.1%

The firm has a market cap of $13.22 billion, a P/E ratio of 3.71 and a beta of 0.53. The firm’s 50 day moving average is $30.77 and its two-hundred day moving average is $31.09.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were issued a $0.1417 dividend. This represents a c) annualized dividend and a yield of 5.6%. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.14. The ex-dividend date was Wednesday, July 1st.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of iShares Preferred and Income Securities ETF in the 3rd quarter valued at $33,000. Roxbury Financial LLC grew its stake in iShares Preferred and Income Securities ETF by 2,833.3% in the second quarter. Roxbury Financial LLC now owns 1,408 shares of the company’s stock valued at $43,000 after acquiring an additional 1,360 shares during the period. Princeton Global Asset Management LLC grew its stake in 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 valued at $49,000 after acquiring an additional 431 shares during the period. Ascentis Independent Advisors acquired a new position in iShares Preferred and Income Securities ETF in the first quarter valued at about $59,000. Finally, Payden & Rygel bought a new stake in shares of iShares Preferred and Income Securities ETF in the fourth quarter worth about $61,000. Institutional investors and hedge funds 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. 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).