Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Update

Invesco Preferred ETF (NYSEARCA:PGX) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 4,844,502 shares, a decline of 13.7% from the February 12th total of 5,611,886 shares. Based on an average trading volume of 2,116,669 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.4% of the shares of the stock are sold short. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 2,116,669 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On Invesco Preferred ETF

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of Invesco Preferred ETF by 110.0% during the third quarter. SG Americas Securities LLC now owns 382,831 shares of the company’s stock valued at $4,441,000 after buying an additional 200,531 shares during the period. Bank of America Corp DE grew its stake in Invesco Preferred ETF by 2.1% in the 3rd quarter. Bank of America Corp DE now owns 65,973,646 shares of the company’s stock worth $765,294,000 after acquiring an additional 1,333,558 shares during the period. Cary Street Partners Financial LLC grew its stake in Invesco Preferred ETF by 5.6% in the 3rd quarter. Cary Street Partners Financial LLC now owns 1,092,414 shares of the company’s stock worth $12,672,000 after acquiring an additional 58,203 shares during the period. Checchi Capital Advisers LLC raised its holdings in Invesco Preferred ETF by 6.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 1,550,907 shares of the company’s stock valued at $17,991,000 after acquiring an additional 93,853 shares during the last quarter. Finally, MainStreet Investment Advisors LLC acquired a new position in Invesco Preferred ETF in the 2nd quarter valued at $228,000. 8.60% of the stock is owned by institutional investors and hedge funds.

Invesco Preferred ETF Stock Performance

Shares of NYSEARCA:PGX opened at $11.13 on Thursday. Invesco Preferred ETF has a 52-week low of $10.70 and a 52-week high of $11.92. The stock’s fifty day simple moving average is $11.37 and its 200-day simple moving average is $11.43.

Invesco Preferred ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were paid a $0.0543 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) annualized dividend and a yield of 5.9%.

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.