SVB Wealth LLC Reduces Stock Holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

SVB Wealth LLC lowered its position in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 37.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 847,197 shares of the company’s stock after selling 498,780 shares during the quarter. SVB Wealth LLC owned 0.19% of iShares Preferred and Income Securities ETF worth $26,424,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 1,107,522 shares during the period. SG Americas Securities LLC purchased a new position in shares of iShares Preferred and Income Securities ETF in the 4th quarter worth about $28,841,000. Janney Montgomery Scott LLC raised its holdings in shares of iShares Preferred and Income Securities ETF by 38.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,358,002 shares of the company’s stock worth $40,944,000 after purchasing an additional 375,400 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of iShares Preferred and Income Securities ETF by 20.8% in the 1st quarter. Ameriprise Financial Inc. now owns 1,859,940 shares of the company’s stock worth $57,963,000 after purchasing an additional 320,206 shares during the period. Finally, Peoples Bank KS purchased a new position in shares of iShares Preferred and Income Securities ETF in the 3rd quarter worth about $4,145,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Performance

Shares of NASDAQ:PFF traded up $0.07 during mid-day trading on Tuesday, hitting $30.79. 3,071,737 shares of the company traded hands, compared to its average volume of 4,771,279. iShares Preferred and Income Securities ETF has a 52-week low of $28.15 and a 52-week high of $32.66. The firm’s 50 day simple moving average is $31.99 and its 200 day simple moving average is $30.94. The firm has a market cap of $14.34 billion, a P/E ratio of 8.31 and a beta of 0.51.

iShares Preferred and Income Securities ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, April 2nd were given a $0.1561 dividend. The ex-dividend date was Monday, April 1st. This represents a $1.87 annualized dividend and a dividend yield of 6.09%.

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.