Bank of New York Mellon Corp Decreases Stake in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Bank of New York Mellon Corp decreased its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 79.9% in the 4th quarter, HoldingsChannel reports. The fund owned 23,101 shares of the company’s stock after selling 91,950 shares during the quarter. Bank of New York Mellon Corp’s holdings in iShares Preferred and Income Securities ETF were worth $726,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YANKCOM Partnership acquired a new position in shares of iShares Preferred and Income Securities ETF during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in shares of iShares Preferred and Income Securities ETF in the fourth quarter valued at about $27,000. Compass Financial Services Inc purchased a new stake in iShares Preferred and Income Securities ETF during the fourth quarter worth about $34,000. Hoese & Co LLP acquired a new position in iShares Preferred and Income Securities ETF during the fourth quarter worth about $53,000. Finally, Bank of Jackson Hole Trust purchased a new position in iShares Preferred and Income Securities ETF in the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Price Performance

Shares of NASDAQ:PFF opened at $31.10 on Thursday. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of 3.86 and a beta of 0.51. The business’s 50 day simple moving average is $31.57 and its 200-day simple moving average is $32.24. iShares Preferred and Income Securities ETF has a 12 month low of $30.56 and a 12 month high of $33.59.

iShares Preferred and Income Securities ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 6th. Investors of record on Monday, March 3rd were issued a dividend of $0.1731 per share. The ex-dividend date was Monday, March 3rd.

iShares Preferred and Income Securities ETF 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.