Cullen Frost Bankers Inc. Trims Holdings in iShares Preferred and Income Securities ETF $PFF

Cullen Frost Bankers Inc. cut its stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,728 shares of the company’s stock after selling 588 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in iShares Preferred and Income Securities ETF were worth $329,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PFF. Golden State Wealth Management LLC grew its position in iShares Preferred and Income Securities ETF by 98.8% during the first quarter. Golden State Wealth Management LLC now owns 1,690 shares of the company’s stock worth $52,000 after buying an additional 840 shares in the last quarter. GAMMA Investing LLC lifted its stake in iShares Preferred and Income Securities ETF by 33.5% during the first quarter. GAMMA Investing LLC now owns 192,028 shares of the company’s stock worth $5,901,000 after purchasing an additional 48,203 shares during the last quarter. Bessemer Group Inc. lifted its stake in iShares Preferred and Income Securities ETF by 1.9% during the first quarter. Bessemer Group Inc. now owns 69,664 shares of the company’s stock worth $2,141,000 after purchasing an additional 1,300 shares during the last quarter. Pandora Wealth Inc. bought a new stake in iShares Preferred and Income Securities ETF during the first quarter worth about $77,000. Finally, Wellington Shields & Co. LLC lifted its stake in iShares Preferred and Income Securities ETF by 9.8% during the first quarter. Wellington Shields & Co. LLC now owns 6,140 shares of the company’s stock worth $189,000 after purchasing an additional 550 shares during the last quarter. 4.70% of the stock is currently owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Stock Up 0.4%

Shares of PFF stock opened at $31.64 on Friday. The business has a 50-day moving average price of $31.68 and a two-hundred day moving average price of $30.89. iShares Preferred and Income Securities ETF has a 12-month low of $28.70 and a 12-month high of $33.31. The firm has a market cap of $14.69 billion, a P/E ratio of 3.71 and a beta of 0.51.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.1707 per share. This represents a c) annualized dividend and a yield of 6.5%. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, October 1st.

iShares Preferred and Income Securities ETF 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.