Hilton Capital Management LLC Has $48.01 Million Holdings in iShares Preferred and Income Securities ETF (NASDAQ:PFF)

Hilton Capital Management LLC boosted its holdings in shares of iShares Preferred and Income Securities ETF (NASDAQ:PFF) by 19.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,444,743 shares of the company’s stock after buying an additional 239,661 shares during the period. iShares Preferred and Income Securities ETF comprises about 3.7% of Hilton Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Hilton Capital Management LLC’s holdings in iShares Preferred and Income Securities ETF were worth $48,009,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Viewpoint Capital Management LLC bought a new stake in shares of iShares Preferred and Income Securities ETF during the 2nd quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in iShares Preferred and Income Securities ETF in the 2nd quarter valued at approximately $43,000. First PREMIER Bank acquired a new position in shares of iShares Preferred and Income Securities ETF during the third quarter worth approximately $53,000. Eastern Bank acquired a new stake in shares of iShares Preferred and Income Securities ETF in the third quarter worth $71,000. Finally, Bogart Wealth LLC increased its position in iShares Preferred and Income Securities ETF by 13.3% during the third quarter. Bogart Wealth LLC now owns 4,025 shares of the company’s stock worth $134,000 after acquiring an additional 471 shares during the period. 4.70% of the stock is owned by institutional investors.

iShares Preferred and Income Securities ETF Price Performance

NASDAQ PFF opened at $32.51 on Wednesday. The company’s fifty day moving average is $33.09 and its two-hundred day moving average is $32.21. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 3.91 and a beta of 0.51. iShares Preferred and Income Securities ETF has a 52-week low of $29.83 and a 52-week high of $33.59.

iShares Preferred and Income Securities ETF Increases Dividend

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