Invesco Financial Preferred ETF (PGF) Sees Unusually-High Trading Volume

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Invesco Financial Preferred ETF (NYSEARCA:PGF) shares saw unusually-high trading volume on Friday . Approximately 1,205,330 shares changed hands during trading, an increase of 62% from the previous session’s volume of 741,868 shares.The stock last traded at $17.83 and had previously closed at $17.76.

PGF has been the topic of several analyst reports. Raymond James reiterated an “average” rating and set a $0.50 price target on shares of Invesco Financial Preferred ETF in a research report on Thursday, December 13th. Royal Bank of Canada reiterated a “sell” rating and set a $0.90 price target on shares of Invesco Financial Preferred ETF in a research report on Monday.

The company also recently declared a monthly dividend, which was paid on Monday, December 31st. Investors of record on Wednesday, December 26th were given a dividend of $0.093 per share. This is a positive change from Invesco Financial Preferred ETF’s previous monthly dividend of $0.08. The ex-dividend date was Monday, December 24th. This represents a $1.12 annualized dividend and a dividend yield of 6.26%.

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Invesco Financial Preferred ETF by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,058 shares of the exchange traded fund’s stock valued at $1,129,000 after purchasing an additional 2,796 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Invesco Financial Preferred ETF by 6.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 49,502 shares of the exchange traded fund’s stock valued at $900,000 after purchasing an additional 3,005 shares during the last quarter. Atria Investments LLC lifted its stake in Invesco Financial Preferred ETF by 9.6% in the 3rd quarter. Atria Investments LLC now owns 42,532 shares of the exchange traded fund’s stock valued at $774,000 after purchasing an additional 3,735 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Invesco Financial Preferred ETF by 1.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 384,689 shares of the exchange traded fund’s stock valued at $6,997,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Invesco Financial Preferred ETF by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 95,603 shares of the exchange traded fund’s stock valued at $1,763,000 after purchasing an additional 4,400 shares during the last quarter.

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Invesco Financial Preferred ETF Company Profile (NYSEARCA:PGF)

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly.

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