Buck Wealth Strategies LLC Cuts Stake in Invesco Preferred ETF $PGX

Buck Wealth Strategies LLC lessened its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 92.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,556 shares of the company’s stock after selling 161,382 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Invesco Preferred ETF were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Clearstead Trust LLC purchased a new position in shares of Invesco Preferred ETF in the second quarter worth about $32,000. Motco purchased a new stake in Invesco Preferred ETF during the 2nd quarter valued at about $39,000. WealthShield Partners LLC grew its position in 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 during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in Invesco Preferred ETF during the 2nd quarter worth approximately $44,000. Finally, American National Bank & Trust purchased a new position in Invesco Preferred ETF in the 3rd quarter worth approximately $76,000. 8.60% of the stock is owned by institutional investors.

Invesco Preferred ETF Trading Down 0.2%

Shares of PGX stock opened at $11.36 on Wednesday. Invesco Preferred ETF has a fifty-two week low of $10.70 and a fifty-two week high of $11.92. The stock has a 50 day moving average price of $11.31 and a two-hundred day moving average price of $11.43.

Invesco Preferred ETF Increases Dividend

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

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.