Raymond James restated their average rating on shares of Invesco Financial Preferred ETF (NYSEARCA:PGF) in a research report released on Thursday, December 13th. Raymond James currently has a $0.50 price target on the exchange traded fund’s stock.
Shares of Invesco Financial Preferred ETF stock traded up $0.04 during trading on Thursday, reaching $17.08. The company’s stock had a trading volume of 600 shares, compared to its average volume of 381,364. Invesco Financial Preferred ETF has a 1-year low of $16.99 and a 1-year high of $18.91.
The business also recently disclosed a monthly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, December 26th will be issued a $0.093 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Monday, December 24th. This is a boost from Invesco Financial Preferred ETF’s previous monthly dividend of $0.08.
Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of Invesco Financial Preferred ETF by 271.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,062 shares of the exchange traded fund’s stock valued at $110,000 after purchasing an additional 4,428 shares in the last quarter. Csenge Advisory Group purchased a new stake in Invesco Financial Preferred ETF during the 3rd quarter worth approximately $117,000. United Asset Strategies Inc. increased its stake in Invesco Financial Preferred ETF by 92.8% during the 3rd quarter. United Asset Strategies Inc. now owns 10,000 shares of the exchange traded fund’s stock worth $182,000 after buying an additional 4,814 shares in the last quarter. Lincoln National Corp purchased a new stake in Invesco Financial Preferred ETF during the 2nd quarter worth approximately $238,000. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in Invesco Financial Preferred ETF during the 3rd quarter worth approximately $246,000.
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.
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