iShares Preferred and Income Securities ETF (NASDAQ:PFF) Shares Pass Below 50-Day Moving Average – Here’s What Happened

iShares Preferred and Income Securities ETF (NASDAQ:PFF) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $31.20 and traded as low as $30.76. iShares Preferred and Income Securities ETF shares last traded at $31.02, with a volume of 3,870,434 shares.

iShares Preferred and Income Securities ETF Stock Up 0.2%

The company has a market cap of $13.78 billion, a price-to-earnings ratio of 3.71 and a beta of 0.53. The company’s 50-day moving average is $31.21 and its 200 day moving average is $31.21.

iShares Preferred and Income Securities ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, June 1st were given a dividend of $0.1384 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date was Monday, June 1st.

Institutional Trading of iShares Preferred and Income Securities ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFF. Brown Brothers Harriman & Co. acquired a new stake in iShares Preferred and Income Securities ETF in the third quarter valued at approximately $33,000. Princeton Global Asset Management LLC grew its holdings 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 purchasing an additional 431 shares during the period. Ascentis Independent Advisors acquired a new stake in iShares Preferred and Income Securities ETF in the first quarter valued at approximately $59,000. Payden & Rygel acquired a new stake in iShares Preferred and Income Securities ETF in the fourth quarter valued at approximately $61,000. Finally, Bayban acquired a new stake in iShares Preferred and Income Securities ETF in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Company 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. 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).