Bank of America Corp DE Boosts Holdings in Invesco Preferred ETF $PGX

Bank of America Corp DE grew its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,973,646 shares of the company’s stock after purchasing an additional 1,333,558 shares during the period. Bank of America Corp DE owned approximately 19.29% of Invesco Preferred ETF worth $765,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cary Street Partners Financial LLC boosted its position in Invesco Preferred ETF by 739.4% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,034,211 shares of the company’s stock valued at $11,511,000 after acquiring an additional 911,001 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Invesco Preferred ETF by 21.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,139,050 shares of the company’s stock worth $46,068,000 after acquiring an additional 728,924 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Invesco Preferred ETF by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock valued at $21,031,000 after purchasing an additional 683,754 shares during the period. Advisors Preferred LLC purchased a new position in shares of Invesco Preferred ETF in the 3rd quarter valued at approximately $6,430,000. Finally, Clearstead Advisors LLC boosted its position in shares of Invesco Preferred ETF by 54.5% during the third quarter. Clearstead Advisors LLC now owns 1,216,444 shares of the company’s stock valued at $14,111,000 after purchasing an additional 428,903 shares in the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

Shares of PGX stock opened at $11.16 on Tuesday. The business’s fifty day moving average is $11.37 and its 200 day moving average is $11.43. 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 firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 23rd were given a $0.0543 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

Invesco Preferred ETF 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.