Congress Asset Management Co. Sells 8,588 Shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Congress Asset Management Co. lowered its position in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,643 shares of the company’s stock after selling 8,588 shares during the quarter. Congress Asset Management Co.’s holdings in iShares Preferred and Income Securities ETF were worth $2,680,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Greenleaf Trust lifted its holdings in iShares Preferred and Income Securities ETF by 4.4% in the third quarter. Greenleaf Trust now owns 1,034,411 shares of the company’s stock valued at $34,373,000 after buying an additional 43,619 shares during the period. Parkside Investments LLC boosted its position in shares of iShares Preferred and Income Securities ETF by 12.5% in the 2nd quarter. Parkside Investments LLC now owns 346,428 shares of the company’s stock worth $10,930,000 after purchasing an additional 38,461 shares during the last quarter. Capital Square LLC grew its stake in shares of iShares Preferred and Income Securities ETF by 12.5% during the second quarter. Capital Square LLC now owns 315,807 shares of the company’s stock worth $10,081,000 after purchasing an additional 35,074 shares during the period. Osher Van de Voorde Investment Management grew its stake in shares of iShares Preferred and Income Securities ETF by 4.6% during the second quarter. Osher Van de Voorde Investment Management now owns 265,700 shares of the company’s stock worth $8,383,000 after purchasing an additional 11,800 shares during the period. Finally, Comerica Bank increased its holdings in iShares Preferred and Income Securities ETF by 1.9% in the first 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 during the last quarter. Institutional investors and hedge funds own 4.70% of the company’s stock.

iShares Preferred and Income Securities ETF Trading Down 0.9 %

iShares Preferred and Income Securities ETF stock opened at $32.54 on Friday. The firm has a market capitalization of $15.13 billion, a P/E ratio of 3.91 and a beta of 0.51. The business has a 50-day moving average of $32.99 and a 200-day moving average of $32.05. iShares Preferred and Income Securities ETF has a 1 year low of $29.15 and a 1 year high of $33.59.

iShares Preferred and Income Securities ETF Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st will be paid a $0.1653 dividend. This represents a $1.98 annualized dividend and a yield of 6.10%. The ex-dividend date is Friday, November 1st. This is an increase from iShares Preferred and Income Securities ETF’s previous monthly dividend of $0.16.

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.