Wavelength Capital Management LLC Acquires 10,000 Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Wavelength Capital Management LLC increased its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 31.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 42,100 shares of the company’s stock after buying an additional 10,000 shares during the quarter. iShares Preferred and Income Securities ETF comprises approximately 1.4% of Wavelength Capital Management LLC’s portfolio, making the stock its 12th biggest position. Wavelength Capital Management LLC’s holdings in iShares Preferred and Income Securities ETF were worth $1,302,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PFF. JPMorgan Chase & Co. boosted its stake in shares of iShares Preferred and Income Securities ETF by 237.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,573,393 shares of the company’s stock worth $49,122,000 after buying an additional 1,107,522 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new stake in shares of iShares Preferred and Income Securities ETF during the 1st quarter valued at about $26,629,000. Ameriprise Financial Inc. grew its stake in shares of iShares Preferred and Income Securities ETF by 20.8% during the 1st quarter. Ameriprise Financial Inc. now owns 1,859,940 shares of the company’s stock valued at $57,963,000 after purchasing an additional 320,206 shares during the period. SVB Wealth LLC increased its position in shares of iShares Preferred and Income Securities ETF by 11.3% during the 1st quarter. SVB Wealth LLC now owns 2,652,556 shares of the company’s stock valued at $96,607,000 after purchasing an additional 269,954 shares during the last quarter. Finally, Hilton Capital Management LLC lifted its stake in shares of iShares Preferred and Income Securities ETF by 327.3% in the 2nd quarter. Hilton Capital Management LLC now owns 340,385 shares of the company’s stock worth $10,528,000 after purchasing an additional 260,722 shares during the period. Hedge funds and other institutional investors own 4.28% of the company’s stock.

iShares Preferred and Income Securities ETF Price Performance

Shares of PFF traded up $0.06 on Monday, reaching $30.21. The company’s stock had a trading volume of 1,314,220 shares, compared to its average volume of 3,871,564. The stock’s 50 day simple moving average is $29.52 and its two-hundred day simple moving average is $30.16. The stock has a market capitalization of $12.65 billion, a P/E ratio of 8.31 and a beta of 0.51. iShares Preferred and Income Securities ETF has a 12-month low of $28.15 and a 12-month high of $33.90.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, November 7th. Stockholders of record on Thursday, November 2nd were given a dividend of $0.173 per share. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.16. The ex-dividend date was Wednesday, November 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.87%.

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.