Farther Finance Advisors LLC Trims Stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Farther Finance Advisors LLC cut its holdings in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,157 shares of the company’s stock after selling 1,814 shares during the quarter. Farther Finance Advisors LLC’s holdings in iShares Preferred and Income Securities ETF were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PFF. Mainstream Capital Management LLC acquired a new stake in iShares Preferred and Income Securities ETF in the 4th quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new position in iShares Preferred and Income Securities ETF during the fourth quarter worth $35,000. Synergy Investment Management LLC purchased a new position in shares of iShares Preferred and Income Securities ETF during the fourth quarter worth $51,000. Bank of Jackson Hole Trust acquired a new stake in shares of iShares Preferred and Income Securities ETF in the fourth quarter valued at $64,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of iShares Preferred and Income Securities ETF in the 4th quarter valued at $64,000. 4.70% of the stock is currently owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Price Performance

Shares of iShares Preferred and Income Securities ETF stock opened at $30.16 on Friday. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 3.71 and a beta of 0.51. The business has a 50-day moving average of $30.03 and a 200 day moving average of $31.02. iShares Preferred and Income Securities ETF has a 12 month low of $28.70 and a 12 month high of $33.59.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, June 2nd were given a dividend of $0.1746 per share. This represents a $2.09 annualized dividend and a dividend yield of 6.95%. The ex-dividend date was Monday, June 2nd. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.17.

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.