JPMorgan Chase & Co. Acquires 298,013 Shares of Invesco Preferred ETF $PGX

JPMorgan Chase & Co. grew its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,437,063 shares of the company’s stock after buying an additional 298,013 shares during the period. JPMorgan Chase & Co.’s holdings in Invesco Preferred ETF were worth $51,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PGX. Bank of America Corp DE increased its stake in shares of Invesco Preferred ETF by 2.1% in 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 acquiring an additional 1,333,558 shares in the last quarter. Cary Street Partners Financial LLC boosted its stake in Invesco Preferred ETF by 739.4% during the second quarter. Cary Street Partners Financial LLC now owns 1,034,211 shares of the company’s stock worth $11,511,000 after acquiring an additional 911,001 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Invesco Preferred ETF by 57.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after acquiring an additional 683,754 shares in the last quarter. Advisors Preferred LLC acquired a new stake in Invesco Preferred ETF in the third quarter worth $6,430,000. Finally, Clearstead Advisors LLC grew its holdings in Invesco Preferred ETF by 54.5% in the third quarter. Clearstead Advisors LLC now owns 1,216,444 shares of the company’s stock worth $14,111,000 after purchasing an additional 428,903 shares during the period. 8.60% of the stock is currently owned by institutional investors.

Invesco Preferred ETF Stock Down 1.3%

PGX opened at $11.01 on Friday. The company has a fifty day moving average price of $11.36 and a two-hundred day moving average price of $11.43. Invesco Preferred ETF has a 1-year low of $10.70 and a 1-year high of $11.92.

Invesco Preferred ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 23rd were paid a $0.0543 dividend. The ex-dividend date was Monday, February 23rd. This represents a c) annualized dividend and a dividend yield of 5.9%.

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.