Invesco Financial Preferred ETF (NYSEARCA:PGF) Sees Significant Growth in Short Interest

Invesco Financial Preferred ETF (NYSEARCA:PGF) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 57,956 shares, an increase of 42.7% from the January 15th total of 40,604 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 131,953 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 131,953 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Invesco Financial Preferred ETF Stock Up 0.4%

Shares of Invesco Financial Preferred ETF stock opened at $14.40 on Tuesday. Invesco Financial Preferred ETF has a 12-month low of $13.61 and a 12-month high of $15.00. The stock’s fifty day moving average is $14.27 and its 200-day moving average is $14.41.

Invesco Financial Preferred ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, January 20th were issued a $0.0818 dividend. The ex-dividend date was Tuesday, January 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. This is a positive change from Invesco Financial Preferred ETF’s previous monthly dividend of $0.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Invesco Financial Preferred ETF by 1.8% during the 1st quarter. Royal Bank of Canada now owns 140,584 shares of the exchange traded fund’s stock valued at $2,009,000 after buying an additional 2,460 shares during the period. Jane Street Group LLC raised its holdings in shares of Invesco Financial Preferred ETF by 33.0% during the first quarter. Jane Street Group LLC now owns 106,613 shares of the exchange traded fund’s stock worth $1,522,000 after acquiring an additional 26,457 shares in the last quarter. International Assets Investment Management LLC boosted its position in Invesco Financial Preferred ETF by 9.4% during the second quarter. International Assets Investment Management LLC now owns 77,042 shares of the exchange traded fund’s stock valued at $1,087,000 after purchasing an additional 6,604 shares during the last quarter. Ballast Inc. acquired a new stake in Invesco Financial Preferred ETF during the second quarter valued at $286,000. Finally, Rehmann Capital Advisory Group grew its stake in Invesco Financial Preferred ETF by 31.3% in the second quarter. Rehmann Capital Advisory Group now owns 16,838 shares of the exchange traded fund’s stock valued at $238,000 after purchasing an additional 4,018 shares in the last quarter.

About Invesco Financial Preferred ETF

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.