iShares Preferred and Income Securities ETF (NASDAQ:PFF) Share Price Cross Above 50-Day Moving Average – Here’s What Happened

iShares Preferred and Income Securities ETF (NASDAQ:PFF) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $30.63 and traded as high as $30.99. iShares Preferred and Income Securities ETF shares last traded at $30.89, with a volume of 2,136,766 shares traded.

iShares Preferred and Income Securities ETF Stock Down 0.2%

The company has a market cap of $13.35 billion, a P/E ratio of 3.71 and a beta of 0.53. The firm’s 50-day moving average price is $30.63 and its 200-day moving average price is $31.02.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, August 3rd were paid a $0.1423 dividend. The ex-dividend date was Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 5.5%. This is a positive change from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.14.

Institutional Investors Weigh In On iShares Preferred and Income Securities ETF

Several institutional investors have recently made changes to their positions in PFF. Cohen & Steers Inc. grew its position in shares of iShares Preferred and Income Securities ETF by 12,157.0% in the fourth quarter. Cohen & Steers Inc. now owns 904,077 shares of the company’s stock valued at $27,997,000 after purchasing an additional 896,701 shares in the last quarter. Horizon Investments LLC purchased a new stake in iShares Preferred and Income Securities ETF during the 3rd quarter worth about $10,608,000. Capital Square LLC purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter worth about $5,828,000. Compass Financial Management LLC purchased a new stake in iShares Preferred and Income Securities ETF during the 2nd quarter worth about $4,351,000. Finally, Amicus Financial Advisors LLC bought a new position in iShares Preferred and Income Securities ETF in the 4th quarter worth about $3,270,000. Hedge funds and other institutional investors 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).