Horizon Investments LLC Lowers Stock Holdings in iShares Preferred and Income Securities ETF $PFF

Horizon Investments LLC cut its position in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 36.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,544 shares of the company’s stock after selling 124,599 shares during the quarter. Horizon Investments LLC’s holdings in iShares Preferred and Income Securities ETF were worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. North Star Investment Management Corp. boosted its holdings in iShares Preferred and Income Securities ETF by 2.1% during the 4th quarter. North Star Investment Management Corp. now owns 26,719 shares of the company’s stock valued at $827,000 after acquiring an additional 542 shares during the period. Canandaigua National Trust Co of Florida increased its stake in iShares Preferred and Income Securities ETF by 7.3% during the fourth quarter. Canandaigua National Trust Co of Florida now owns 26,389 shares of the company’s stock worth $817,000 after purchasing an additional 1,791 shares during the period. Canandaigua National Bank & Trust Co. increased its stake in iShares Preferred and Income Securities ETF by 46.3% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 93,768 shares of the company’s stock worth $2,903,000 after purchasing an additional 29,663 shares during the period. Kickstand Ventures LLC. lifted its position in shares of iShares Preferred and Income Securities ETF by 4.8% during the fourth quarter. Kickstand Ventures LLC. now owns 12,428 shares of the company’s stock worth $385,000 after purchasing an additional 571 shares in the last quarter. Finally, High Point Wealth Management LLC acquired a new stake in shares of iShares Preferred and Income Securities ETF during the fourth quarter worth about $296,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Performance

NASDAQ PFF opened at $31.41 on Friday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 3.71 and a beta of 0.53. The firm has a 50 day simple moving average of $31.01 and a 200-day simple moving average of $31.18. iShares Preferred and Income Securities ETF has a one year low of $29.86 and a one year high of $32.26.

iShares Preferred and Income Securities ETF Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.1403 per share. The ex-dividend date is Friday, May 1st. This represents a c) dividend on an annualized basis and a yield of 5.4%.

iShares Preferred and Income Securities ETF 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).