Allworth Financial LP Invests $6.79 Million in Preferred-Plus ETF $IPPP

Allworth Financial LP acquired a new stake in shares of Preferred-Plus ETF (BATS:IPPP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 694,547 shares of the company’s stock, valued at approximately $6,786,000. Allworth Financial LP owned about 56.93% of Preferred-Plus ETF at the end of the most recent reporting period.

Preferred-Plus ETF Stock Performance

Shares of IPPP stock opened at $10.09 on Wednesday. The firm’s 50 day moving average is $10.09 and its 200 day moving average is $9.94. Preferred-Plus ETF has a 12-month low of $8.96 and a 12-month high of $11.73.

Preferred-Plus ETF Company Profile

The Preferred-Plus ETF (IPPP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund provides exposure by holding preferred securities issued by US and non-US companies, with a 10% exposure to the S&P 500 ETF using a credit spread options strategy. IPPP was launched on Dec 24, 2018 and is managed by Innovative Portfolios.