Janney Montgomery Scott LLC Increases Stock Position in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Janney Montgomery Scott LLC raised its position in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,555,758 shares of the company’s stock after purchasing an additional 90,356 shares during the period. Janney Montgomery Scott LLC’s holdings in iShares Preferred and Income Securities ETF were worth $48,913,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. First Interstate Bank raised its holdings in iShares Preferred and Income Securities ETF by 0.6% in the 3rd quarter. First Interstate Bank now owns 1,651,210 shares of the company’s stock worth $54,870,000 after purchasing an additional 10,148 shares during the period. JPMorgan Chase & Co. raised its stake in shares of iShares Preferred and Income Securities ETF by 51.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,453,930 shares of the company’s stock worth $48,314,000 after buying an additional 491,005 shares during the period. Hilton Capital Management LLC lifted its position in shares of iShares Preferred and Income Securities ETF by 19.9% during the 3rd quarter. Hilton Capital Management LLC now owns 1,444,743 shares of the company’s stock valued at $48,009,000 after buying an additional 239,661 shares in the last quarter. Greenleaf Trust grew its stake in iShares Preferred and Income Securities ETF by 4.4% in the 3rd quarter. Greenleaf Trust now owns 1,034,411 shares of the company’s stock valued at $34,373,000 after acquiring an additional 43,619 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its holdings in iShares Preferred and Income Securities ETF by 3.9% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 726,188 shares of the company’s stock worth $24,131,000 after acquiring an additional 27,357 shares in the last quarter. 4.70% of the stock is owned by hedge funds and other institutional investors.

iShares Preferred and Income Securities ETF Price Performance

PFF opened at $31.99 on Friday. The firm’s fifty day simple moving average is $32.03 and its two-hundred day simple moving average is $32.35. iShares Preferred and Income Securities ETF has a 52-week low of $30.56 and a 52-week high of $33.59. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 3.91 and a beta of 0.51.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, December 18th were issued a $0.1767 dividend. This represents a $2.12 annualized dividend and a yield of 6.63%. This is a boost from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, December 18th.

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.