ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) Shares Down 1.1% – Here’s What Happened

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (NYSEARCA:PFFL) dropped 1.1% during mid-day trading on Monday . The company traded as low as $8.19 and last traded at $8.26. Approximately 512 shares traded hands during trading, a decline of 89% from the average daily volume of 4,556 shares. The stock had previously closed at $8.35.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Stock Performance

The firm has a 50-day moving average price of $8.58 and a 200-day moving average price of $8.56.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 12th were given a $0.0978 dividend. This represents a c) annualized dividend and a yield of 14.1%. This is a positive change from ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN’s previous monthly dividend of $0.04. The ex-dividend date was Wednesday, November 12th.

ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN Company Profile

The ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN (PFFL) is an exchange-traded fund that is based on the Solactive Preferred Stock ETF index. The fund tracks twice the monthly returns of a market-value-selected and -weighted index of preferred securities from various issuers. PFFL was launched on Sep 25, 2018 and is issued by ETRACS.