iShares S&P U.S. Preferred Stock Index Fund (PFF) — This ETF, which seeks to track the price and yield performance, before fees and expenses, of the S&P U.S. Preferred Stock Index, bottomed at under $14 in March. Since then, it has more than doubled.
Recently, the PFF’s chart flashed a golden cross, which confirms the long-term change to a bull market for the fund.
The fund pays a dividend of $2.82 per share for a dividend yield of 8.5%, and, as of June 9, had a net asset value of $32.60, according to ETF Connect.
Recently, companies with a large number of preferred stocks outstanding have been seeking to buy in or tender those preferreds, and that appears to be driving prices higher.
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