Royal Bank Of Canada restated their hold rating on shares of PowerShares Fin. Preferred Port. (NYSE:PGF) in a research report report published on Monday.

PowerShares Fin. Preferred Port. (PGF) opened at 18.94 on Monday. The stock’s 50 day moving average is $19.00 and its 200-day moving average is $18.92. PowerShares Fin. Preferred Port. has a 12 month low of $17.65 and a 12 month high of $19.22.

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The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.0848 per share. The ex-dividend date of this dividend is Monday, September 18th. This is a positive change from PowerShares Fin. Preferred Port.’s previous monthly dividend of $0.08. This represents a $1.02 annualized dividend and a dividend yield of 5.37%.

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of PowerShares Fin. Preferred Port. by 8.8% during the 2nd quarter. Royal Bank of Canada now owns 397,710 shares of the exchange traded fund’s stock valued at $7,597,000 after purchasing an additional 32,246 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of PowerShares Fin. Preferred Port. by 21.3% during the 2nd quarter. Wells Fargo & Company MN now owns 192,595 shares of the exchange traded fund’s stock valued at $3,679,000 after purchasing an additional 33,842 shares during the last quarter. Financial Advisors Network Inc. grew its holdings in shares of PowerShares Fin. Preferred Port. by 3.1% during the 2nd quarter. Financial Advisors Network Inc. now owns 192,522 shares of the exchange traded fund’s stock valued at $3,677,000 after purchasing an additional 5,732 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of PowerShares Fin. Preferred Port. during the 2nd quarter valued at approximately $3,549,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of PowerShares Fin. Preferred Port. by 3.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 159,777 shares of the exchange traded fund’s stock valued at $3,052,000 after purchasing an additional 5,874 shares during the last quarter.

PowerShares Fin. Preferred Port. Company Profile

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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