iShares Preferred and Income Securities ETF (NASDAQ:PFF) Stock Cross Below Fifty Day Moving Average – Here’s Why

iShares Preferred and Income Securities ETF (NASDAQ:PFF) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $31.20 and traded as low as $30.76. iShares Preferred and Income Securities ETF shares last traded at $31.02, with a volume of 3,870,434 shares trading hands.

iShares Preferred and Income Securities ETF Stock Performance

The company has a market cap of $13.76 billion, a PE ratio of 3.71 and a beta of 0.53. The firm has a fifty day simple moving average of $31.20 and a 200 day simple moving average of $31.21.

iShares Preferred and Income Securities ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, June 1st were issued a $0.1384 dividend. The ex-dividend date was Monday, June 1st. This represents a c) annualized dividend and a yield of 5.4%.

Hedge Funds Weigh In On iShares Preferred and Income Securities ETF

A number of hedge funds have recently made changes to their positions in the stock. Dynamic Wealth Strategies LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 2.2% in the 1st quarter. Dynamic Wealth Strategies LLC now owns 15,700 shares of the company’s stock valued at $476,000 after purchasing an additional 341 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 4.2% in the 4th quarter. Sound Income Strategies LLC now owns 9,913 shares of the company’s stock valued at $315,000 after purchasing an additional 402 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF by 36.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,608 shares of the company’s stock valued at $49,000 after purchasing an additional 431 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of iShares Preferred and Income Securities ETF by 3.7% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 12,222 shares of the company’s stock valued at $386,000 after purchasing an additional 436 shares during the last quarter. Finally, Somerset Trust Co boosted its holdings in shares of iShares Preferred and Income Securities ETF by 1.0% in the 4th quarter. Somerset Trust Co now owns 49,083 shares of the company’s stock valued at $1,520,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 4.70% of the company’s stock.

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).