Clearstead Advisors LLC Raises Stake in Invesco Preferred ETF $PGX

Clearstead Advisors LLC increased its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 54.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,216,444 shares of the company’s stock after buying an additional 428,903 shares during the period. Clearstead Advisors LLC owned 0.36% of Invesco Preferred ETF worth $14,111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clearstead Trust LLC bought a new position in Invesco Preferred ETF in the 2nd quarter worth about $32,000. Motco purchased a new stake in shares of Invesco Preferred ETF in the second quarter valued at approximately $39,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Invesco Preferred ETF in the second quarter valued at approximately $44,000. WealthShield Partners LLC grew its stake in Invesco Preferred ETF by 753.8% in the third quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock worth $45,000 after purchasing an additional 3,430 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Invesco Preferred ETF during the 3rd quarter worth $76,000. Institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

Shares of NYSEARCA PGX opened at $11.49 on Monday. Invesco Preferred ETF has a twelve month low of $10.70 and a twelve month high of $11.92. The business has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $11.45.

Invesco Preferred ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 23rd will be issued a $0.0543 dividend. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Monday, February 23rd.

Invesco Preferred ETF Company Profile

The PowerShares Preferred Portfolio (Fund) is based on The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index (Index). The Fund normally invest at least 90% of its total assets in securities that comprise the Index. The Index is designed to replicate the total return of a diversified group of investment-grade preferred securities. The Index is rebalanced on a monthly basis. The Fund seeks investment results that correspond generally to the price and yield (before fees and expenses) of a securities index.