iShares Preferred and Income Securities ETF (NASDAQ:PFF) Sees Strong Trading Volume – What’s Next?

Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) saw an uptick in trading volume on Wednesday . 7,930,030 shares changed hands during mid-day trading, an increase of 102% from the previous session’s volume of 3,926,982 shares.The stock last traded at $28.87 and had previously closed at $29.00.

iShares Preferred and Income Securities ETF Stock Performance

The stock has a market capitalization of $13.78 billion, a PE ratio of 3.65 and a beta of 0.51. The business’s 50-day moving average price is $31.19 and its 200 day moving average price is $32.03.

iShares Preferred and Income Securities ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.07 annualized dividend and a yield of 6.93%.

Institutional Investors Weigh In On iShares Preferred and Income Securities ETF

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in iShares Preferred and Income Securities ETF by 4,002.9% in the first quarter. GAMMA Investing LLC now owns 5,901,020 shares of the company’s stock worth $192,028,000 after buying an additional 5,757,195 shares in the last quarter. JPMorgan Chase & Co. raised its position in iShares Preferred and Income Securities ETF by 42.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,071,639 shares of the company’s stock worth $65,132,000 after purchasing an additional 617,709 shares during the period. Janney Montgomery Scott LLC boosted its position in iShares Preferred and Income Securities ETF by 6.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,555,758 shares of the company’s stock valued at $48,913,000 after buying an additional 90,356 shares during the period. Greenleaf Trust grew its stake in shares of iShares Preferred and Income Securities ETF by 4.9% during the fourth quarter. Greenleaf Trust now owns 1,085,296 shares of the company’s stock valued at $34,122,000 after buying an additional 50,885 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of iShares Preferred and Income Securities ETF by 1.7% in the fourth quarter. Baird Financial Group Inc. now owns 858,762 shares of the company’s stock worth $26,999,000 after buying an additional 14,180 shares during the period. Institutional investors own 4.70% of the company’s stock.

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.