STRATEGY BECOMES LARGEST ISSUER IN ISHARES $PFF Strategy is now the largest issuer in BlackRock’s iShares Preferred and Income Securities ETF ($PFF), which invests in preferred stocks and other income-producing securities that sit between common stocks and bonds. Preferreds typically pay regular dividends and have priority over common stockholders for distributions. Strategy’s preferreds now make up 4.7% of PFF and nearly 9% of its total yield. And it achieved this in a Bitcoin bear market.