Redmont Wealth Advisors LLC Buys 26,165 Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Redmont Wealth Advisors LLC boosted its stake in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 25.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,152 shares of the company’s stock after purchasing an additional 26,165 shares during the quarter. iShares Preferred and Income Securities ETF makes up approximately 5.7% of Redmont Wealth Advisors LLC’s holdings, making the stock its 3rd largest position. Redmont Wealth Advisors LLC’s holdings in iShares Preferred and Income Securities ETF were worth $4,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PFF. Brown Brothers Harriman & Co. bought a new position in shares of iShares Preferred and Income Securities ETF in the fourth quarter valued at approximately $27,000. M&R Capital Management Inc. lifted its position in iShares Preferred and Income Securities ETF by 280.0% in the first quarter. M&R Capital Management Inc. now owns 950 shares of the company’s stock worth $31,000 after purchasing an additional 700 shares during the period. Vima LLC bought a new position in iShares Preferred and Income Securities ETF during the 4th quarter valued at $40,000. Future Financial Wealth Managment LLC acquired a new position in shares of iShares Preferred and Income Securities ETF during the 1st quarter valued at $56,000. Finally, Webster Bank N. A. raised its stake in shares of iShares Preferred and Income Securities ETF by 34.8% in the 1st quarter. Webster Bank N. A. now owns 1,867 shares of the company’s stock worth $60,000 after buying an additional 482 shares in the last quarter. 4.70% of the stock is currently owned by institutional investors.

iShares Preferred and Income Securities ETF Price Performance

Shares of iShares Preferred and Income Securities ETF stock traded up $0.27 during trading on Wednesday, hitting $31.68. The stock had a trading volume of 2,865,253 shares, compared to its average volume of 4,258,413. The business has a fifty day moving average of $31.49 and a two-hundred day moving average of $31.64. The firm has a market cap of $14.48 billion, a P/E ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a fifty-two week low of $28.15 and a fifty-two week high of $32.66.

iShares Preferred and Income Securities ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, July 1st will be given a dividend of $0.164 per share. The ex-dividend date is Monday, July 1st. This represents a $1.97 annualized dividend and a dividend yield of 6.21%.

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.