King Wealth Management Group Decreases Stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

King Wealth Management Group lessened its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 4.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,878 shares of the company’s stock after selling 1,640 shares during the quarter. King Wealth Management Group’s holdings in iShares Preferred and Income Securities ETF were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rothschild Investment LLC purchased a new position in iShares Preferred and Income Securities ETF in the 2nd quarter valued at approximately $6,851,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of iShares Preferred and Income Securities ETF in the 3rd quarter worth approximately $4,669,000. One Capital Management LLC lifted its stake in iShares Preferred and Income Securities ETF by 1,100.4% in the second quarter. One Capital Management LLC now owns 143,936 shares of the company’s stock worth $4,541,000 after purchasing an additional 131,945 shares during the last quarter. Burke & Herbert Bank & Trust Co. purchased a new stake in iShares Preferred and Income Securities ETF during the second quarter valued at about $3,488,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of iShares Preferred and Income Securities ETF by 7.7% during the third quarter. Janney Montgomery Scott LLC now owns 1,465,402 shares of the company’s stock valued at $48,695,000 after buying an additional 104,770 shares during the last quarter. 4.70% of the stock is owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Price Performance

PFF opened at $32.61 on Friday. The stock’s 50 day simple moving average is $33.08 and its 200 day simple moving average is $32.17. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a 1 year low of $29.83 and a 1 year high of $33.59.

iShares Preferred and Income Securities ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1653 per share. The ex-dividend date of this dividend was Friday, November 1st. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.16. This represents a $1.98 annualized dividend and a dividend yield of 6.08%.

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.