Invesco Preferred ETF $PGX Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,437,063 shares of the company’s stock after buying an additional 298,013 shares during the period. JPMorgan Chase & Co. owned approximately 1.30% of Invesco Preferred ETF worth $51,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PGX. Triumph Capital Management bought a new position in Invesco Preferred ETF in the 3rd quarter worth approximately $29,000. WealthShield Partners LLC boosted its stake in Invesco Preferred ETF by 753.8% in the 3rd quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after buying an additional 3,430 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Invesco Preferred ETF in the 2nd quarter valued at $44,000. Advisory Services Network LLC acquired a new stake in shares of Invesco Preferred ETF during the third quarter worth approximately $70,000. Finally, American National Bank & Trust bought a new position in Invesco Preferred ETF in the 3rd quarter valued at $76,000. Institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

NYSEARCA:PGX opened at $11.01 on Friday. The stock’s 50 day moving average price is $11.36 and its two-hundred day moving average price is $11.43. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.92.

Invesco Preferred ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were given a dividend of $0.0543 per share. The ex-dividend date was Monday, February 23rd. This represents a c) annualized dividend and a dividend yield of 5.9%.

Invesco Preferred 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. 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.