iShares Preferred and Income Securities ETF (NASDAQ:PFF) Hits New 52-Week Low – What’s Next?

iShares Preferred and Income Securities ETF (NASDAQ:PFF) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $28.39 and last traded at $28.4050, with a volume of 2,127,066 shares. The stock had previously closed at $28.47.

iShares Preferred and Income Securities ETF Trading Down 0.6%

The stock’s 50 day moving average price is $29.66 and its two-hundred day moving average price is $30.70. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 3.71 and a beta of 0.54.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, November 2nd will be issued a dividend of $0.1761 per share. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.1594. This represents a $2.11 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Monday, November 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PFF. Verity Asset Management Inc. acquired a new position in shares of iShares Preferred and Income Securities ETF in the third quarter worth $697,000. Compass Financial Management LLC grew its holdings in shares of iShares Preferred and Income Securities ETF by 4.8% during the 3rd quarter. Compass Financial Management LLC now owns 149,071 shares of the company’s stock worth $4,398,000 after purchasing an additional 6,866 shares during the period. First Nebraska Trust Co purchased a new position in iShares Preferred and Income Securities ETF in the third quarter valued at approximately $405,000. Greenleaf Trust purchased a new position in iShares Preferred and Income Securities ETF in the third quarter valued at approximately $20,190,000. Finally, Payden & Rygel acquired a new position in iShares Preferred and Income Securities ETF during the third quarter valued at approximately $50,000. 4.70% of the stock is owned by hedge funds and other institutional investors.

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).