PFFA - Virtus InfraCap U.S. Preferred Stock ETF
PFFA is an actively managed preferred stock ETF that focuses on preferred equity listed in the US and utilizes a variety of active management strategies. Specifically, the portfolio manager analyzes companies based on fundamentals while generally eliminating exposure to callable securities. A distinguishing characteristic of PFFA is that it uses margin to modestly leverage the portfolio, with a target leverage of 15-25% and a cap of 33% of fund assets (an effective maximum leverage ratio of 1.
As of Jun 26, 2026: spot at $20.48, ATM IV 10.2%, max pain $21.00, net GEX -$33.7K.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $2.39B
- Beta
- 1.02
- 52-Week Range
- 20.23-22.5
- Dividend Yield
- $2.06
- IPO Date
- May 16, 2018
- Exchange
- AMEX
What PFFA Looks Like to Options Traders Today
IV rank of 1.6% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); negative net gamma exposure (-$33.7K) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (0.013) is roughly flat across the wings.
What This Page Covers
The PFFA overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked PFFA overview questions
- What is PFFA?
- PFFA is the ticker symbol for Virtus InfraCap U.S. Preferred Stock ETF, an listed exchange-traded fund. PFFA is an actively managed preferred stock ETF that focuses on preferred equity listed in the US and utilizes a variety of active management strategies. Specifically, the portfolio manager analyzes companies based on fundamentals while generally eliminating exposure to callable securities. Listed on AMEX. PFFA is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the PFFA options snapshot look like today?
- As of Jun 26, 2026, the PFFA options snapshot shows spot at $20.48, ATM IV 10.2%, IV rank 1.6%, max pain $21.00, net GEX -$33.7K, expected move 2.92%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are PFFA's key statistics?
- Virtus InfraCap U.S. Preferred Stock ETF (PFFA) carries a market capitalization of $2.39B, 52-week range of 20.23-22.5. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does PFFA belong to?
- Virtus InfraCap U.S. Preferred Stock ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare PFFA's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the PFFA data on this page?
- The options snapshot above is dated Jun 26, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.