Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Up 38.1% in December

Invesco Preferred ETF (NYSEARCA:PGX) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,824,896 shares, a growth of 38.1% from the December 15th total of 6,391,183 shares. Based on an average daily volume of 3,862,587 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.5% of the company’s stock are short sold. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 3,862,587 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Invesco Preferred ETF

Several hedge funds and other institutional investors have recently made changes to their positions in PGX. Bank of America Corp DE boosted its stake in Invesco Preferred ETF by 2.1% during the 3rd quarter. Bank of America Corp DE now owns 65,973,646 shares of the company’s stock valued at $765,294,000 after purchasing an additional 1,333,558 shares during the last quarter. Spectrum Asset Management Inc. raised its stake in shares of Invesco Preferred ETF by 28.4% in the second quarter. Spectrum Asset Management Inc. now owns 4,669,495 shares of the company’s stock worth $51,972,000 after purchasing an additional 1,033,904 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Invesco Preferred ETF by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 4,437,063 shares of the company’s stock valued at $51,470,000 after purchasing an additional 298,013 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Invesco Preferred ETF by 7.1% in the third quarter. Allworth Financial LP now owns 3,050,046 shares of the company’s stock valued at $35,381,000 after purchasing an additional 201,458 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Invesco Preferred ETF by 7.2% during the third quarter. Raymond James Financial Inc. now owns 2,901,409 shares of the company’s stock valued at $33,656,000 after buying an additional 194,411 shares during the last quarter. 8.60% of the stock is owned by institutional investors.

Invesco Preferred ETF Stock Performance

Shares of PGX opened at $11.43 on Monday. The business’s fifty day moving average is $11.30 and its 200 day moving average is $11.42. Invesco Preferred ETF has a 12-month low of $10.70 and a 12-month high of $11.92.

Invesco Preferred ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, January 20th will be paid a $0.0638 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. This is a positive change from Invesco Preferred ETF’s previous monthly dividend of $0.05. The ex-dividend date of this dividend is 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.