Advisors Preferred LLC Acquires New Stake in Invesco Preferred ETF $PGX

Advisors Preferred LLC acquired a new stake in Invesco Preferred ETF (NYSEARCA:PGX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 547,692 shares of the company’s stock, valued at approximately $6,430,000. Invesco Preferred ETF comprises approximately 0.9% of Advisors Preferred LLC’s portfolio, making the stock its 26th biggest position. Advisors Preferred LLC owned approximately 0.16% of Invesco Preferred ETF as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Clearstead Trust LLC purchased a new stake in shares of Invesco Preferred ETF during the second quarter valued at $32,000. Motco purchased a new position in Invesco Preferred ETF in the 2nd quarter worth about $39,000. WealthShield Partners LLC lifted its holdings in Invesco Preferred ETF by 753.8% during the 3rd quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after buying an additional 3,430 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Invesco Preferred ETF in the 2nd quarter valued at about $44,000. Finally, American National Bank & Trust purchased a new stake in Invesco Preferred ETF in the 3rd quarter valued at about $76,000. 8.60% of the stock is currently owned by institutional investors.

Invesco Preferred ETF Price Performance

Shares of NYSEARCA:PGX opened at $11.49 on Friday. The firm’s 50 day simple moving average is $11.35 and its 200-day simple moving average is $11.45. Invesco Preferred ETF has a one year low of $10.70 and a one year high of $11.92.

Invesco Preferred ETF Increases Dividend

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

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.