Envestnet Asset Management Inc. Has $7.66 Million Stock Holdings in Invesco Preferred ETF $PGX

Envestnet Asset Management Inc. reduced its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 16.5% in the third quarter, Holdings Channel reports. The institutional investor owned 660,118 shares of the company’s stock after selling 130,770 shares during the period. Envestnet Asset Management Inc.’s holdings in Invesco Preferred ETF were worth $7,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGX. Clearstead Trust LLC bought a new position in Invesco Preferred ETF in the 2nd quarter valued at about $32,000. Motco purchased a new stake in shares of Invesco Preferred ETF in the second quarter worth approximately $39,000. WealthShield Partners LLC raised its stake in shares of Invesco Preferred ETF by 753.8% in the third quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock worth $45,000 after purchasing an additional 3,430 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Invesco Preferred ETF in the second quarter valued at approximately $44,000. Finally, American National Bank & Trust purchased a new position in shares of Invesco Preferred ETF during the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

NYSEARCA PGX opened at $11.49 on Friday. The business has a fifty day simple moving average of $11.35 and a 200 day simple moving average of $11.45. Invesco Preferred ETF has a 12 month low of $10.70 and a 12 month high of $11.92.

Invesco Preferred ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were given a dividend of $0.0638 per share. The ex-dividend date 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 yield of 6.7%.

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.