iShares S&P US Pref Stock Idx Fnd (NASDAQ:PFF) Sees Significant Decrease in Short Interest

iShares S&P US Pref Stock Idx Fnd (NASDAQ:PFF) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,121,613 shares, a decline of 31.5% from the October 13th total of 4,559,767 shares. Based on an average daily trading volume, of 1,987,074 shares, the short-interest ratio is currently 1.6 days.

iShares S&P US Pref Stock Idx Fnd (NASDAQ:PFF) traded down $0.03 during mid-day trading on Monday, hitting $38.43. 3,133,892 shares of the stock traded hands, compared to its average volume of 2,451,463. iShares S&P US Pref Stock Idx Fnd has a fifty-two week low of $36.77 and a fifty-two week high of $39.31.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Monday, December 4th will be given a dividend of $0.1925 per share. The ex-dividend date is Friday, December 1st. This is a boost from iShares S&P US Pref Stock Idx Fnd’s previous monthly dividend of $0.18. This represents a $2.31 dividend on an annualized basis and a yield of 6.01%. iShares S&P US Pref Stock Idx Fnd’s dividend payout ratio is currently 70.03%.

Several hedge funds and other institutional investors have recently modified their holdings of PFF. JPMorgan Chase & Co. increased its position in iShares S&P US Pref Stock Idx Fnd by 758.6% during the second quarter. JPMorgan Chase & Co. now owns 4,246,425 shares of the company’s stock worth $166,332,000 after purchasing an additional 3,751,827 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in iShares S&P US Pref Stock Idx Fnd by 98.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,271,314 shares of the company’s stock worth $88,967,000 after buying an additional 1,126,138 shares during the period. Pictet Asset Management Ltd. purchased a new position in iShares S&P US Pref Stock Idx Fnd during the third quarter worth about $29,798,000. Janus Henderson Group PLC purchased a new position in iShares S&P US Pref Stock Idx Fnd during the second quarter worth about $23,438,000. Finally, MML Investors Services LLC purchased a new position in iShares S&P US Pref Stock Idx Fnd during the second quarter worth about $23,136,000.

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About iShares S&P US Pref Stock Idx Fnd

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.

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