iShares Preferred and Income Securities ETF (NASDAQ:PFF) Sets New 12-Month Low – Time to Sell?

iShares Preferred and Income Securities ETF (NASDAQ:PFF) hit a new 52-week low on Tuesday . The company traded as low as $30.10 and last traded at $30.1150, with a volume of 1839641 shares changing hands. The stock had previously closed at $30.44.

iShares Preferred and Income Securities ETF Stock Performance

The company has a market cap of $13.02 billion, a P/E ratio of 3.71 and a beta of 0.53. The stock has a 50-day moving average of $30.52 and a two-hundred day moving average of $30.93.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st will be issued a $0.1472 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.14.

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 business. NewEdge Advisors LLC boosted its position in iShares Preferred and Income Securities ETF by 28.1% during the second quarter. NewEdge Advisors LLC now owns 359,311 shares of the company’s stock valued at $11,024,000 after buying an additional 78,817 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of iShares Preferred and Income Securities ETF by 6,632.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,386 shares of the company’s stock valued at $165,000 after acquiring an additional 5,306 shares during the last quarter. WFA of San Diego LLC purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter valued at about $83,000. Captrust Financial Advisors boosted its holdings in iShares Preferred and Income Securities ETF by 7.8% during the 2nd quarter. Captrust Financial Advisors now owns 305,358 shares of the company’s stock valued at $9,368,000 after acquiring an additional 22,103 shares during the period. Finally, Resources Management Corp CT ADV bought a new position in iShares Preferred and Income Securities ETF during the 2nd quarter worth approximately $80,000. 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. 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).