Pinnacle Associates Ltd. raised its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 16.3% during the first quarter, HoldingsChannel reports. The firm owned 39,870 shares of the company’s stock after buying an additional 5,596 shares during the period. Pinnacle Associates Ltd.’s holdings in Invesco Preferred ETF were worth $578,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in Invesco Preferred ETF by 29.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 32,652 shares of the company’s stock worth $468,000 after purchasing an additional 7,466 shares during the period. We Are One Seven LLC acquired a new stake in shares of Invesco Preferred ETF during the 4th quarter worth approximately $37,000. CWM LLC increased its holdings in shares of Invesco Preferred ETF by 45.0% during the 4th quarter. CWM LLC now owns 12,881 shares of the company’s stock worth $174,000 after buying an additional 3,995 shares during the last quarter. Ruggie Capital Group acquired a new stake in shares of Invesco Preferred ETF during the 4th quarter worth approximately $36,000. Finally, Financial Architects Inc acquired a new stake in shares of Invesco Preferred ETF during the 4th quarter worth approximately $37,000.

Shares of NYSEARCA PGX opened at $14.56 on Tuesday. Invesco Preferred ETF has a 1 year low of $13.12 and a 1 year high of $14.79.

The company also recently declared a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.065 per share. The ex-dividend date was Monday, May 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 5.36%.

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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.

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

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

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