Cary Street Partners Financial LLC Boosts Stake in Invesco Preferred ETF $PGX

Cary Street Partners Financial LLC raised its position in Invesco Preferred ETF (NYSEARCA:PGX) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,414 shares of the company’s stock after purchasing an additional 58,203 shares during the quarter. Cary Street Partners Financial LLC owned 0.32% of Invesco Preferred ETF worth $12,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its position in Invesco Preferred ETF by 4.1% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 27,473 shares of the company’s stock worth $319,000 after purchasing an additional 1,089 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Invesco Preferred ETF by 0.7% during the third quarter. Jones Financial Companies Lllp now owns 167,868 shares of the company’s stock valued at $1,957,000 after buying an additional 1,183 shares in the last quarter. Modern Wealth Management LLC grew its stake in Invesco Preferred ETF by 5.5% during the second quarter. Modern Wealth Management LLC now owns 25,839 shares of the company’s stock worth $288,000 after buying an additional 1,349 shares during the period. Invesco Ltd. increased its position in shares of Invesco Preferred ETF by 1.5% in the second quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock worth $1,253,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in shares of Invesco Preferred ETF by 6.1% in the 3rd quarter. Transcend Capital Advisors LLC now owns 29,527 shares of the company’s stock valued at $343,000 after acquiring an additional 1,700 shares during the period. 8.60% of the stock is owned by institutional investors and hedge funds.

Invesco Preferred ETF Stock Performance

NYSEARCA:PGX opened at $11.43 on Wednesday. The firm’s fifty day simple moving average is $11.36 and its 200 day simple moving average is $11.45. Invesco Preferred ETF has a twelve month low of $10.70 and a twelve month high of $11.92.

Invesco Preferred ETF Cuts Dividend

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

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.