Invesco Financial Preferred ETF (NYSEARCA:PGF) Sees Large Decline in Short Interest

Invesco Financial Preferred ETF (NYSEARCA:PGF) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 64,506 shares, a drop of 47.2% from the May 14th total of 122,185 shares. Based on an average daily trading volume, of 145,535 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Invesco Financial Preferred ETF

Several hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its holdings in shares of Invesco Financial Preferred ETF by 26.0% during the third quarter. UBS Group AG now owns 1,401,504 shares of the exchange traded fund’s stock valued at $20,490,000 after purchasing an additional 289,564 shares during the last quarter. Bank of America Corp DE lifted its stake in Invesco Financial Preferred ETF by 9.5% in the 3rd quarter. Bank of America Corp DE now owns 740,240 shares of the exchange traded fund’s stock worth $10,822,000 after acquiring an additional 64,090 shares in the last quarter. Private Advisor Group LLC lifted its stake in Invesco Financial Preferred ETF by 1.1% in the 4th quarter. Private Advisor Group LLC now owns 342,877 shares of the exchange traded fund’s stock worth $4,848,000 after acquiring an additional 3,852 shares in the last quarter. Evoke Wealth LLC lifted its stake in Invesco Financial Preferred ETF by 4.9% in the 4th quarter. Evoke Wealth LLC now owns 334,076 shares of the exchange traded fund’s stock worth $4,724,000 after acquiring an additional 15,752 shares in the last quarter. Finally, Investors Research Corp lifted its stake in Invesco Financial Preferred ETF by 8.7% in the 4th quarter. Investors Research Corp now owns 322,794 shares of the exchange traded fund’s stock worth $4,564,000 after acquiring an additional 25,710 shares in the last quarter.

Invesco Financial Preferred ETF Trading Down 0.1%

PGF stock traded down $0.01 during trading hours on Friday, hitting $13.76. 77,542 shares of the stock traded hands, compared to its average volume of 144,559. The stock has a 50-day simple moving average of $13.93 and a 200 day simple moving average of $14.11. Invesco Financial Preferred ETF has a one year low of $13.66 and a one year high of $15.00.

About Invesco Financial Preferred ETF

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. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.