Invesco Preferred ETF $PGX Shares Acquired by Clearstead Advisors LLC

Clearstead Advisors LLC lifted its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 54.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,216,444 shares of the company’s stock after purchasing an additional 428,903 shares during the quarter. Clearstead Advisors LLC’s holdings in Invesco Preferred ETF were worth $14,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Spectrum Asset Management Inc. increased its position in Invesco Preferred ETF by 28.4% during the 2nd quarter. Spectrum Asset Management Inc. now owns 4,669,495 shares of the company’s stock valued at $51,972,000 after buying an additional 1,033,904 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Invesco Preferred ETF by 7.2% during the third quarter. JPMorgan Chase & Co. now owns 4,437,063 shares of the company’s stock valued at $51,470,000 after acquiring an additional 298,013 shares in the last quarter. Allworth Financial LP raised its position in shares of Invesco Preferred ETF by 8.4% in the 2nd quarter. Allworth Financial LP now owns 2,848,588 shares of the company’s stock valued at $31,705,000 after purchasing an additional 221,139 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Invesco Preferred ETF by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after purchasing an additional 683,754 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Invesco Preferred ETF by 3.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,751,764 shares of the company’s stock worth $19,498,000 after purchasing an additional 65,918 shares in the last quarter. 8.60% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Preferred ETF Stock Performance

Shares of Invesco Preferred ETF stock opened at $11.49 on Monday. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.92. The firm’s 50 day simple moving average is $11.35 and its two-hundred day simple moving average is $11.45.

Invesco Preferred ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.0543 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%.

About Invesco Preferred 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. 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.