Summit Financial LLC Raises Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

Summit Financial LLC increased its position in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,035 shares of the company’s stock after buying an additional 2,555 shares during the period. Summit Financial LLC’s holdings in Invesco Preferred ETF were worth $635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Invesco Preferred ETF during the 4th quarter valued at about $29,537,000. JPMorgan Chase & Co. increased its holdings in Invesco Preferred ETF by 131.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,148,592 shares of the company’s stock valued at $47,833,000 after buying an additional 2,359,356 shares during the period. Spectrum Asset Management Inc. raised its stake in Invesco Preferred ETF by 64.7% in the fourth quarter. Spectrum Asset Management Inc. now owns 5,771,517 shares of the company’s stock worth $66,546,000 after buying an additional 2,266,498 shares in the last quarter. LPL Financial LLC lifted its holdings in Invesco Preferred ETF by 14.8% during the fourth quarter. LPL Financial LLC now owns 14,706,360 shares of the company’s stock worth $169,564,000 after buying an additional 1,897,392 shares during the period. Finally, One Capital Management LLC boosted its position in Invesco Preferred ETF by 818.6% during the 4th quarter. One Capital Management LLC now owns 780,407 shares of the company’s stock valued at $8,998,000 after acquiring an additional 695,449 shares in the last quarter.

Invesco Preferred ETF Price Performance

PGX opened at $11.28 on Thursday. Invesco Preferred ETF has a 12 month low of $11.20 and a 12 month high of $12.54. The stock has a fifty day moving average price of $11.56 and a 200-day moving average price of $11.84.

Invesco Preferred ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were given a dividend of $0.0563 per share. This is a positive change from Invesco Preferred ETF’s previous dividend of $0.05. The ex-dividend date of this dividend was Monday, March 24th.

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.