from24/7 Wall St.
1 day agoRetirees Are Collecting 9.5% Monthly From An Overlooked Preferred Stock Fund
PFFA holds a diversified portfolio of 188 preferred securities issued by corporations. These preferred stocks function as a hybrid between bonds and common equity, with companies issuing them at fixed dividend rates that flow through to PFFA shareholders as monthly distributions. The fund's largest positions reveal a strategic approach to income generation. Financial powerhouses like Apollo Global Management (NYSE:APO) and KKR (NYSE:KKR) anchor the portfolio with their convertible preferreds, providing stability through investment-grade credits.
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