Avantax Advisory Services Inc. Lowers Stake in Invesco Financial Preferred ETF (NYSEARCA:PGF)

Avantax Advisory Services Inc. cut its position in Invesco Financial Preferred ETF (NYSEARCA:PGF) by 20.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,619 shares of the exchange traded fund’s stock after selling 3,828 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Invesco Financial Preferred ETF were worth $213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Invesco Financial Preferred ETF by 23,087.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 873,248 shares of the exchange traded fund’s stock worth $13,675,000 after buying an additional 869,482 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Invesco Financial Preferred ETF in the fourth quarter valued at about $1,675,000. International Assets Investment Management LLC bought a new position in shares of Invesco Financial Preferred ETF in the fourth quarter worth about $697,000. Investors Research Corp grew its position in shares of Invesco Financial Preferred ETF by 15.3% during the fourth quarter. Investors Research Corp now owns 207,910 shares of the exchange traded fund’s stock worth $3,025,000 after purchasing an additional 27,511 shares in the last quarter. Finally, Sterneck Capital Management LLC raised its stake in Invesco Financial Preferred ETF by 27.0% during the 4th quarter. Sterneck Capital Management LLC now owns 117,173 shares of the exchange traded fund’s stock valued at $1,705,000 after purchasing an additional 24,928 shares during the period.

Invesco Financial Preferred ETF Stock Performance

PGF stock opened at $14.48 on Thursday. Invesco Financial Preferred ETF has a 1-year low of $14.25 and a 1-year high of $15.95. The business has a 50 day simple moving average of $14.71 and a two-hundred day simple moving average of $15.05.

Invesco Financial Preferred ETF Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be given a dividend of $0.0651 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco Financial Preferred ETF 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.