SVB Wealth LLC Trims Stock Position in iShares Preferred and Income Securities ETF $PFF

SVB Wealth LLC reduced its stake in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 33.5% during the fourth quarter, Holdings Channel reports. The firm owned 43,165 shares of the company’s stock after selling 21,779 shares during the quarter. SVB Wealth LLC’s holdings in iShares Preferred and Income Securities ETF were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Providence First Trust Co increased its position in iShares Preferred and Income Securities ETF by 47.3% during the 4th quarter. Providence First Trust Co now owns 51,535 shares of the company’s stock valued at $1,596,000 after purchasing an additional 16,547 shares during the period. North Star Investment Management Corp. grew its position in shares of iShares Preferred and Income Securities ETF by 2.1% in the 4th quarter. North Star Investment Management Corp. now owns 26,719 shares of the company’s stock worth $827,000 after buying an additional 542 shares during the period. Canandaigua National Trust Co of Florida grew its position in shares of iShares Preferred and Income Securities ETF by 7.3% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 26,389 shares of the company’s stock worth $817,000 after buying an additional 1,791 shares during the period. Canandaigua National Bank & Trust Co. grew its position in shares of iShares Preferred and Income Securities ETF by 46.3% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 93,768 shares of the company’s stock worth $2,903,000 after buying an additional 29,663 shares during the period. Finally, Kickstand Ventures LLC. grew its position in shares of iShares Preferred and Income Securities ETF by 4.8% in the 4th quarter. Kickstand Ventures LLC. now owns 12,428 shares of the company’s stock worth $385,000 after buying an additional 571 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

NASDAQ:PFF opened at $31.68 on Tuesday. The firm’s 50-day moving average price is $31.00 and its 200-day moving average price is $31.18. The company has a market capitalization of $14.05 billion, a PE ratio of 3.71 and a beta of 0.53. iShares Preferred and Income Securities ETF has a 1-year low of $29.86 and a 1-year high of $32.26.

iShares Preferred and Income Securities ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Friday, May 1st were given a $0.1403 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

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. The Underlying Index includes preferred stocks with a market capitalization over $100 million, which meet minimum price, liquidity, trading volume, maturity and other requirements determined by Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw Hill Companies (S&P).