PowerShares Fin. Preferred Port. (NYSEARCA:PGF) declared a monthly dividend on Monday, January 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, January 23rd will be given a dividend of 0.08 per share by the exchange traded fund on Wednesday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Monday, January 22nd.
PowerShares Fin. Preferred Port. (NYSEARCA PGF) traded up $0.01 during trading on Monday, reaching $18.65. 472,300 shares of the company’s stock were exchanged, compared to its average volume of 434,769. The firm has a market cap of $1,630.00 and a price-to-earnings ratio of 12.35. PowerShares Fin. Preferred Port. has a 52-week low of $18.07 and a 52-week high of $19.17.
A number of research firms have commented on PGF. Canaccord Genuity restated a “sell” rating and set a $1.00 price target on shares of PowerShares Fin. Preferred Port. in a research report on Thursday. AltaCorp Capital reiterated a “hold” rating and issued a $1.15 target price on shares of PowerShares Fin. Preferred Port. in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of PowerShares Fin. Preferred Port. in a report on Monday, October 23rd.
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.
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