iShares Preferred and Income Securities ETF (NASDAQ:PFF) Reaches New 52-Week Low – Time to Sell?

iShares Preferred and Income Securities ETF (NASDAQ:PFF) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $30.47 and last traded at $30.54, with a volume of 481080 shares. The stock had previously closed at $30.73.

iShares Preferred and Income Securities ETF Trading Up 0.3 %

The firm has a market capitalization of $14.13 billion, a PE ratio of 3.86 and a beta of 0.51. The stock’s 50 day moving average price is $31.46 and its two-hundred day moving average price is $32.17.

iShares Preferred and Income Securities ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st will be given a $0.1725 dividend. This represents a $2.07 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Tuesday, April 1st.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

A number of institutional investors have recently made changes to their positions in PFF. SVB Wealth LLC bought a new position in shares of iShares Preferred and Income Securities ETF in the fourth quarter worth $20,005,000. JPMorgan Chase & Co. lifted its holdings in shares of iShares Preferred and Income Securities ETF by 42.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,071,639 shares of the company’s stock valued at $65,132,000 after buying an additional 617,709 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in iShares Preferred and Income Securities ETF during the fourth quarter worth $11,581,000. Cohen & Steers Inc. raised its stake in shares of iShares Preferred and Income Securities ETF by 1,468.7% in the 4th quarter. Cohen & Steers Inc. now owns 337,181 shares of the company’s stock valued at $10,600,000 after acquiring an additional 315,687 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in shares of iShares Preferred and Income Securities ETF in the fourth quarter valued at approximately $5,477,000. 4.70% of the stock is owned by institutional investors and hedge funds.

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.