"PFXF holds preferred securities issued by non-financial companies, primarily in utilities and REITs. Preferred shares pay fixed or adjustable dividends that must be honored before any common stock dividend."
"The deliberate exclusion of financial-sector preferred shares is the fund's defining structural choice. By avoiding that concentration, PFXF reduces exposure to regulatory capital changes and banking-sector stress events."
"PFXF pays monthly, but amounts fluctuate. In 2025, monthly distributions ranged from $0.0449 in February to $0.1847 in December, with an average closer to $0.09 per share."
"One analyst described the distribution history as 'flat' despite the fund's high yield. The 30-day SEC yield has historically run between 6.59% and higher."
PFXF focuses on preferred securities from non-financial companies, primarily utilities and REITs, providing monthly distributions. The fund's structure avoids financial-sector preferred shares, reducing exposure to banking risks. It holds 99 securities in a $2.12 billion portfolio, with a 0.41% expense ratio. Monthly distributions have varied, with 2025 payments ranging from $0.0449 to $0.1847, averaging around $0.09 per share. Despite a high yield, the distribution history has been described as flat, with a 30-day SEC yield between 6.59% and higher.
#preferred-securities #income-investing #monthly-distributions #non-financial-companies #investment-strategy
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