Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Update

Invesco Preferred ETF (NYSEARCA:PGX) was the recipient of a significant decline in short interest during 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 days-to-cover ratio is currently 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 days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Invesco Preferred ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Triumph Capital Management bought a new stake in shares of Invesco Preferred ETF during the 3rd quarter valued at about $29,000. Ransom Advisory Ltd purchased a new stake in Invesco Preferred ETF in the fourth quarter worth about $31,000. Clearstead Trust LLC bought a new stake in Invesco Preferred ETF during the 2nd quarter valued at approximately $32,000. Motco bought a new stake in Invesco Preferred ETF during the 2nd quarter valued at approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Invesco Preferred ETF during the 2nd quarter worth approximately $44,000. 8.60% of the stock is owned by hedge funds and other institutional investors.

Invesco Preferred ETF Stock Performance

Shares of PGX stock remained flat at $11.39 during mid-day trading on Friday. 2,564,120 shares of the company’s stock were exchanged, compared to its average volume of 6,158,481. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.92. The company has a 50-day moving average price of $11.31 and a 200-day moving average price of $11.43.

Invesco Preferred ETF Increases Dividend

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

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.