Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Down 13.7% in February

Invesco Preferred ETF (NYSEARCA:PGX) was the recipient of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 4,844,502 shares, a decline of 13.7% from the February 12th total of 5,611,886 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average trading volume of 2,116,669 shares, the short-interest ratio is currently 2.3 days. Based on an average trading volume of 2,116,669 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Invesco Preferred ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Triumph Capital Management acquired a new position in Invesco Preferred ETF during the third quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in shares of Invesco Preferred ETF during the 4th quarter valued at approximately $31,000. WealthShield Partners LLC boosted its stake in shares of Invesco Preferred ETF by 753.8% during the 3rd quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock worth $45,000 after acquiring an additional 3,430 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Invesco Preferred ETF during the 2nd quarter worth approximately $44,000. Finally, Bayban acquired a new stake in shares of Invesco Preferred ETF in the 4th quarter worth approximately $52,000. 8.60% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Preferred ETF Stock Up 0.4%

Invesco Preferred ETF stock traded up $0.05 during mid-day trading on Tuesday, reaching $11.21. 1,097,185 shares of the company were exchanged, compared to its average volume of 4,117,921. Invesco Preferred ETF has a twelve month low of $10.70 and a twelve month high of $11.92. The firm’s 50-day simple moving average is $11.37 and its two-hundred day simple moving average is $11.43.

Invesco Preferred ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.0543 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, February 23rd.

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.