City State Bank Lowers Stock Position in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

City State Bank cut its stake in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF – Get Rating) by 34.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,965 shares of the company’s stock after selling 12,065 shares during the period. City State Bank’s holdings in iShares Preferred and Income Securities ETF were worth $701,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter worth $44,000. JDM Financial Group LLC purchased a new position in iShares Preferred and Income Securities ETF in the 4th quarter valued at about $68,000. American National Bank purchased a new position in iShares Preferred and Income Securities ETF in the 3rd quarter valued at about $71,000. Colonial Trust Advisors purchased a new position in iShares Preferred and Income Securities ETF in the 3rd quarter valued at about $106,000. Finally, Baron Silver Stevens Financial Advisors LLC purchased a new position in iShares Preferred and Income Securities ETF in the 3rd quarter valued at about $115,000. 6.55% of the stock is owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Trading Down 2.4 %

NASDAQ:PFF traded down $0.73 on Friday, reaching $30.18. The stock had a trading volume of 4,430,413 shares, compared to its average volume of 4,683,634. The company has a 50-day moving average of $32.54 and a 200 day moving average of $31.84. The stock has a market cap of $12.78 billion, a P/E ratio of 8.31 and a beta of 0.48. iShares Preferred and Income Securities ETF has a 12-month low of $29.63 and a 12-month high of $36.51.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Thursday, March 2nd were given a $0.19 dividend. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.19. This represents a $2.28 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date was Wednesday, March 1st.

iShares Preferred and Income Securities ETF Company Profile

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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.