Invesco Preferred ETF (NYSEARCA:PGX) Sees Large Decrease in Short Interest

Invesco Preferred ETF (NYSEARCA:PGX) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 4,535,895 shares, a decline of 48.6% from the December 31st total of 8,824,896 shares. Based on an average daily volume of 6,499,448 shares, the short-interest ratio is presently 0.7 days. Currently, 1.3% of the company’s shares are short sold. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 6,499,448 shares, the short-interest ratio is presently 0.7 days.

Invesco Preferred ETF Price Performance

Invesco Preferred ETF stock opened at $11.39 on Friday. Invesco Preferred ETF has a 1-year low of $10.70 and a 1-year high of $11.92. The company’s 50-day moving average is $11.31 and its 200 day moving average is $11.43.

Invesco Preferred ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were paid a dividend of $0.0638 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Invesco Preferred ETF’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On Invesco Preferred ETF

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Invesco Preferred ETF by 110.0% during the 3rd quarter. SG Americas Securities LLC now owns 382,831 shares of the company’s stock valued at $4,441,000 after purchasing an additional 200,531 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Invesco Preferred ETF by 6.1% during the second quarter. Plimoth Trust Co. LLC now owns 453,260 shares of the company’s stock valued at $5,045,000 after buying an additional 26,250 shares during the period. MainStreet Investment Advisors LLC bought a new stake in shares of Invesco Preferred ETF in the second quarter valued at about $228,000. Truist Financial Corp lifted its stake in Invesco Preferred ETF by 0.9% in the second quarter. Truist Financial Corp now owns 535,948 shares of the company’s stock worth $5,965,000 after acquiring an additional 4,901 shares during the period. Finally, Coordinated Financial Services Inc. bought a new position in Invesco Preferred ETF during the 2nd quarter worth about $130,000. Institutional investors own 8.60% of the company’s stock.

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.