Checchi Capital Advisers LLC Grows Stake in Invesco Preferred ETF $PGX

Checchi Capital Advisers LLC boosted its position in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,550,907 shares of the company’s stock after purchasing an additional 93,853 shares during the quarter. Invesco Preferred ETF makes up 0.9% of Checchi Capital Advisers LLC’s portfolio, making the stock its 20th biggest holding. Checchi Capital Advisers LLC owned 0.45% of Invesco Preferred ETF worth $17,991,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new position in shares of Invesco Preferred ETF during the 2nd quarter worth $32,000. Motco acquired a new stake in Invesco Preferred ETF in the 2nd quarter valued at about $39,000. WealthShield Partners LLC increased its holdings in Invesco Preferred ETF by 753.8% during the 3rd quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after acquiring an additional 3,430 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Invesco Preferred ETF during the 2nd quarter valued at about $44,000. Finally, American National Bank & Trust acquired a new position in Invesco Preferred ETF during the third quarter worth about $76,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Down 0.2%

Shares of NYSEARCA PGX opened at $11.36 on Wednesday. The firm’s 50-day moving average is $11.31 and its two-hundred day moving average is $11.43. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.92.

Invesco Preferred ETF Increases Dividend

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

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. 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.