JPMorgan Chase & Co. Acquires 298,013 Shares of Invesco Preferred ETF $PGX

JPMorgan Chase & Co. grew its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 7.2% in the third quarter, Holdings Channel reports. The fund owned 4,437,063 shares of the company’s stock after acquiring an additional 298,013 shares during the quarter. JPMorgan Chase & Co.’s holdings in Invesco Preferred ETF were worth $51,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. raised its position in shares of Invesco Preferred ETF by 4.1% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 27,473 shares of the company’s stock valued at $319,000 after buying an additional 1,089 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Invesco Preferred ETF by 0.7% during the third quarter. Jones Financial Companies Lllp now owns 167,868 shares of the company’s stock valued at $1,957,000 after acquiring an additional 1,183 shares in the last quarter. Modern Wealth Management LLC boosted its stake in shares of Invesco Preferred ETF by 5.5% during the 2nd quarter. Modern Wealth Management LLC now owns 25,839 shares of the company’s stock valued at $288,000 after purchasing an additional 1,349 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Invesco Preferred ETF by 1.5% during the 2nd quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock worth $1,253,000 after acquiring an additional 1,693 shares during the period. Finally, Transcend Capital Advisors LLC raised its holdings in Invesco Preferred ETF by 6.1% in the third quarter. Transcend Capital Advisors LLC now owns 29,527 shares of the company’s stock worth $343,000 after purchasing an additional 1,700 shares in the last quarter. 8.60% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Preferred ETF Price Performance

Invesco Preferred ETF stock opened at $11.42 on Thursday. The business’s fifty day simple moving average is $11.36 and its two-hundred day simple moving average is $11.45. Invesco Preferred ETF has a 12 month low of $10.70 and a 12 month high of $11.92.

Invesco Preferred ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 23rd will be issued a $0.0543 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a c) dividend on an annualized basis and a yield of 5.7%.

Invesco Preferred ETF 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.