Joseph P. Lucia & Associates LLC bought a new stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 80,317 shares of the company’s stock, valued at approximately $5,505,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Park Avenue Securities LLC increased its stake in shares of Invesco Preferred ETF by 32.7% in the 1st quarter. Park Avenue Securities LLC now owns 36,702 shares of the company’s stock worth $535,000 after purchasing an additional 9,046 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Invesco Preferred ETF by 75.5% in the 1st quarter. Sigma Planning Corp now owns 132,258 shares of the company’s stock worth $1,918,000 after purchasing an additional 56,906 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Invesco Preferred ETF by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 29,382 shares of the company’s stock worth $426,000 after purchasing an additional 14,692 shares in the last quarter. Patriot Investment Management Inc. purchased a new stake in shares of Invesco Preferred ETF in the 1st quarter worth $761,000. Finally, Perennial Advisors LLC increased its stake in shares of Invesco Preferred ETF by 6.4% in the 1st quarter. Perennial Advisors LLC now owns 211,530 shares of the company’s stock worth $3,067,000 after purchasing an additional 12,740 shares in the last quarter.
PGX stock remained flat at $$14.56 during trading on Wednesday. The company’s stock had a trading volume of 1,799,907 shares, compared to its average volume of 2,053,479. Invesco Preferred ETF has a 1-year low of $13.12 and a 1-year high of $14.79.
The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be paid a $0.065 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.78 dividend on an annualized basis and a yield of 5.36%.
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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.
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