iShares Preferred and Income Securities ETF (NASDAQ:PFF) Stock Cross Below Fifty Day Moving Average – Here’s Why

iShares Preferred and Income Securities ETF (NASDAQ:PFF)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $30.96 and traded as low as $30.21. iShares Preferred and Income Securities ETF shares last traded at $30.35, with a volume of 2,178,128 shares changing hands.

iShares Preferred and Income Securities ETF Stock Performance

The business has a 50-day moving average of $30.96 and a 200 day moving average of $31.16. The stock has a market cap of $13.27 billion, a PE ratio of 3.71 and a beta of 0.53.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.1417 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 5.6%. This is an increase 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

A number of institutional investors have recently modified their holdings of PFF. Kentucky Trust Co raised its position in shares of iShares Preferred and Income Securities ETF by 0.7% in the second quarter. Kentucky Trust Co now owns 191,794 shares of the company’s stock valued at $5,848,000 after buying an additional 1,414 shares during the last quarter. GAMMA Investing LLC boosted its position in iShares Preferred and Income Securities ETF by 133.8% during the second quarter. GAMMA Investing LLC now owns 14,643 shares of the company’s stock worth $446,000 after acquiring an additional 8,379 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in iShares Preferred and Income Securities ETF during the second quarter worth approximately $1,153,000. Vigilare Wealth Management grew its stake in iShares Preferred and Income Securities ETF by 33.0% in the 2nd quarter. Vigilare Wealth Management now owns 11,003 shares of the company’s stock worth $335,000 after acquiring an additional 2,729 shares during the period. Finally, Roxbury Financial LLC grew its stake in iShares Preferred and Income Securities ETF by 2,833.3% in the 2nd quarter. Roxbury Financial LLC now owns 1,408 shares of the company’s stock worth $43,000 after acquiring an additional 1,360 shares during the period. 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).