Raymond James Financial Inc. Purchases Shares of 2,561,750 Invesco Preferred ETF (NYSEARCA:PGX)

Raymond James Financial Inc. acquired a new stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,561,750 shares of the company’s stock, valued at approximately $29,537,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Invesco Preferred ETF by 9.5% in the fourth quarter. Wells Fargo & Company MN now owns 16,086,648 shares of the company’s stock worth $185,479,000 after buying an additional 1,397,140 shares during the last quarter. LPL Financial LLC raised its stake in Invesco Preferred ETF by 14.8% in the 4th quarter. LPL Financial LLC now owns 14,706,360 shares of the company’s stock worth $169,564,000 after acquiring an additional 1,897,392 shares during the last quarter. Spectrum Asset Management Inc. lifted its position in Invesco Preferred ETF by 64.7% during the 4th quarter. Spectrum Asset Management Inc. now owns 5,771,517 shares of the company’s stock worth $66,546,000 after acquiring an additional 2,266,498 shares during the period. JPMorgan Chase & Co. grew its stake in Invesco Preferred ETF by 131.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,148,592 shares of the company’s stock valued at $47,833,000 after purchasing an additional 2,359,356 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Invesco Preferred ETF by 11.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,448,097 shares of the company’s stock valued at $16,697,000 after purchasing an additional 148,346 shares during the period.

Invesco Preferred ETF Stock Up 0.5 %

Invesco Preferred ETF stock opened at $10.94 on Friday. Invesco Preferred ETF has a 52 week low of $10.70 and a 52 week high of $12.54. The stock has a 50-day moving average price of $11.38 and a 200 day moving average price of $11.72.

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.