PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,363,918 shares, an increase of 518.5% from the October 31st total of 543,849 shares. Based on an average daily trading volume, of 1,951,111 shares, the days-to-cover ratio is presently 1.7 days.

Institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC acquired a new position in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth approximately $324,000. Advisory Alpha LLC increased its position in shares of PowerShares Preferred Portfolio(ETF) by 186.0% during the 3rd quarter. Advisory Alpha LLC now owns 24,386 shares of the company’s stock worth $364,000 after purchasing an additional 15,858 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth approximately $532,000. B. Riley Financial Inc. increased its position in shares of PowerShares Preferred Portfolio(ETF) by 24.4% during the 3rd quarter. B. Riley Financial Inc. now owns 50,425 shares of the company’s stock worth $758,000 after purchasing an additional 9,898 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth approximately $815,000.

Shares of PowerShares Preferred Portfoli (PGX) opened at $14.98 on Thursday. PowerShares Preferred Portfoli has a 1 year low of $13.96 and a 1 year high of $15.20.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Tuesday, November 21st will be given a $0.0681 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date is Monday, November 20th.

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About PowerShares Preferred Portfolio(ETF)

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.

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