GAMMA Investing LLC Boosts Holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

GAMMA Investing LLC raised its holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 125.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 56,482 shares of the company’s stock after acquiring an additional 31,404 shares during the period. GAMMA Investing LLC’s holdings in iShares Preferred and Income Securities ETF were worth $1,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC grew its holdings in iShares Preferred and Income Securities ETF by 14.8% in the 2nd quarter. Transcend Capital Advisors LLC now owns 73,663 shares of the company’s stock valued at $2,324,000 after buying an additional 9,505 shares during the period. Red Spruce Capital LLC lifted its stake in shares of iShares Preferred and Income Securities ETF by 5.5% in the 2nd quarter. Red Spruce Capital LLC now owns 20,457 shares of the company’s stock valued at $645,000 after purchasing an additional 1,070 shares in the last quarter. Keynote Financial Services LLC acquired a new position in shares of iShares Preferred and Income Securities ETF in the 1st quarter valued at about $480,000. Comerica Bank lifted its stake in shares of iShares Preferred and Income Securities ETF by 1.9% in the 1st quarter. Comerica Bank now owns 223,860 shares of the company’s stock valued at $7,215,000 after purchasing an additional 4,076 shares in the last quarter. Finally, InterOcean Capital Group LLC acquired a new position in shares of iShares Preferred and Income Securities ETF in the 1st quarter valued at about $359,000. Hedge funds and other institutional investors own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Stock Down 0.1 %

Shares of NASDAQ PFF traded down $0.02 during midday trading on Friday, hitting $31.63. The stock had a trading volume of 5,526,773 shares, compared to its average volume of 4,211,067. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a 1-year low of $28.15 and a 1-year high of $32.66. The company has a fifty day moving average price of $31.64 and a 200 day moving average price of $31.71.

iShares Preferred and Income Securities ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Thursday, August 1st will be paid a $0.1606 dividend. This represents a $1.93 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Thursday, August 1st.

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.