Envestnet Asset Management Inc. Sells 130,770 Shares of Invesco Preferred ETF $PGX

Envestnet Asset Management Inc. cut its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 16.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 660,118 shares of the company’s stock after selling 130,770 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Invesco Preferred ETF worth $7,657,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Spectrum Asset Management Inc. boosted its stake in shares of Invesco Preferred ETF by 28.4% in the 2nd quarter. Spectrum Asset Management Inc. now owns 4,669,495 shares of the company’s stock valued at $51,972,000 after purchasing an additional 1,033,904 shares in the last quarter. Cary Street Partners Financial LLC increased 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 worth $11,511,000 after purchasing an additional 911,001 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Invesco Preferred ETF by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 4,139,050 shares of the company’s stock valued at $46,068,000 after buying an additional 728,924 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Invesco Preferred ETF by 57.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock valued at $21,031,000 after buying an additional 683,754 shares in the last quarter. Finally, Bluefin Capital Management LLC grew its stake in shares of Invesco Preferred ETF by 1,928.5% during the second quarter. Bluefin Capital Management LLC now owns 400,000 shares of the company’s stock worth $4,452,000 after buying an additional 380,281 shares during the last quarter. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

Shares of PGX opened at $11.49 on Friday. Invesco Preferred ETF has a 52 week low of $10.70 and a 52 week high of $11.92. The stock has a fifty day moving average of $11.35 and a 200-day moving average of $11.45.

Invesco Preferred ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, January 20th were paid a dividend of $0.0638 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This is an increase from Invesco Preferred ETF’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a dividend yield of 6.7%.

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.