Wells Fargo & Company MN Acquires 1,397,140 Shares of Invesco Preferred ETF (NYSEARCA:PGX)

Wells Fargo & Company MN boosted its position in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 9.5% in the fourth quarter, HoldingsChannel reports. The fund owned 16,086,648 shares of the company’s stock after purchasing an additional 1,397,140 shares during the quarter. Wells Fargo & Company MN’s holdings in Invesco Preferred ETF were worth $185,479,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC lifted its holdings in shares of Invesco Preferred ETF by 8.4% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 33,422 shares of the company’s stock valued at $385,000 after purchasing an additional 2,576 shares during the last quarter. Jane Street Group LLC increased its position in Invesco Preferred ETF by 85.7% during the 3rd quarter. Jane Street Group LLC now owns 75,421 shares of the company’s stock valued at $931,000 after buying an additional 34,804 shares in the last quarter. Park Avenue Securities LLC raised its stake in Invesco Preferred ETF by 6.2% in the fourth quarter. Park Avenue Securities LLC now owns 38,714 shares of the company’s stock valued at $446,000 after buying an additional 2,272 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Invesco Preferred ETF by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 1,789,236 shares of the company’s stock worth $22,097,000 after acquiring an additional 746,783 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Invesco Preferred ETF by 632.8% during the third quarter. Principal Financial Group Inc. now owns 94,686 shares of the company’s stock worth $1,169,000 after acquiring an additional 81,764 shares during the last quarter.

Invesco Preferred ETF Stock Performance

PGX opened at $11.08 on Friday. The firm’s 50-day moving average price is $11.54 and its 200-day moving average price is $11.82. Invesco Preferred ETF has a 52-week low of $10.93 and a 52-week high of $12.54.

Invesco Preferred ETF Increases Dividend

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

Invesco Preferred ETF Profile

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.