ACG Wealth purchased a new stake in PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 90,909 shares of the company’s stock, valued at approximately $1,351,000.

Other hedge funds also recently bought and sold shares of the company. First American Bank acquired a new stake in shares of PowerShares Preferred Portfolio(ETF) during the 4th quarter worth about $154,000. Valicenti Advisory Services Inc. raised its position in shares of PowerShares Preferred Portfolio(ETF) by 50.8% during the 4th quarter. Valicenti Advisory Services Inc. now owns 16,925 shares of the company’s stock worth $252,000 after acquiring an additional 5,700 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of PowerShares Preferred Portfolio(ETF) by 32.6% during the 4th quarter. Park Avenue Securities LLC now owns 17,730 shares of the company’s stock worth $261,000 after acquiring an additional 4,360 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth about $324,000. Finally, IFG Advisory LLC acquired a new stake in shares of PowerShares Preferred Portfolio(ETF) during the 4th quarter worth about $333,000.

Shares of PowerShares Preferred Portfoli (PGX) opened at $14.35 on Thursday. PowerShares Preferred Portfoli has a 12-month low of $14.10 and a 12-month high of $15.20.

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 23rd were given a dividend of $0.068 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.68%. The ex-dividend date was Monday, January 22nd.

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PowerShares Preferred Portfolio(ETF) 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.

Want to see what other hedge funds are holding PGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX).

Institutional Ownership by Quarter for PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX)

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