Summit Financial LLC Decreases Stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Summit Financial LLC cut its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 41.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,813 shares of the company’s stock after selling 25,172 shares during the period. Summit Financial LLC’s holdings in iShares Preferred and Income Securities ETF were worth $1,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cary Street Partners Asset Management LLC purchased a new stake in shares of iShares Preferred and Income Securities ETF during the 4th quarter valued at $538,000. Cary Street Partners Investment Advisory LLC boosted its stake in iShares Preferred and Income Securities ETF by 509.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 22,100 shares of the company’s stock valued at $689,000 after acquiring an additional 18,471 shares during the last quarter. Penobscot Investment Management Company Inc. grew its position in shares of iShares Preferred and Income Securities ETF by 23.1% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 17,050 shares of the company’s stock valued at $532,000 after acquiring an additional 3,200 shares during the period. Ledyard National Bank purchased a new stake in shares of iShares Preferred and Income Securities ETF during the 4th quarter worth approximately $238,000. Finally, Transcend Capital Advisors LLC grew its holdings in iShares Preferred and Income Securities ETF by 58.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 49,418 shares of the company’s stock valued at $1,541,000 after purchasing an additional 18,164 shares during the period. 4.70% of the stock is owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Price Performance

Shares of PFF traded down $0.04 during mid-day trading on Thursday, hitting $31.10. The stock had a trading volume of 357,727 shares, compared to its average volume of 4,708,801. The firm has a market cap of $14.25 billion, a P/E ratio of 3.83 and a beta of 0.51. The business has a fifty day moving average price of $31.80 and a 200-day moving average price of $31.08. iShares Preferred and Income Securities ETF has a 52 week low of $28.15 and a 52 week high of $32.66.

iShares Preferred and Income Securities ETF Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Thursday, May 2nd will be paid a $0.1596 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.92 annualized dividend and a yield of 6.16%.

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.