PowerShares Preferred Portfolio(ETF) (PGX) Short Interest Update
PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,388,937 shares, a decline of 58.7% from the November 15th total of 3,363,918 shares. Based on an average trading volume of 1,564,800 shares, the short-interest ratio is presently 0.9 days.
Shares of PowerShares Preferred Portfoli (NYSEARCA PGX) opened at $14.94 on Friday. PowerShares Preferred Portfoli has a 52-week low of $14.17 and a 52-week high of $15.20.
The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.46%.
Several hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in PowerShares Preferred Portfolio(ETF) in the 3rd quarter valued at about $324,000. Advisory Alpha LLC lifted its holdings in shares of PowerShares Preferred Portfolio(ETF) by 186.0% during the 3rd quarter. Advisory Alpha LLC now owns 24,386 shares of the company’s stock worth $364,000 after acquiring an additional 15,858 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth approximately $532,000. B. Riley Financial Inc. lifted its holdings in shares of PowerShares Preferred Portfolio(ETF) by 24.4% during the 3rd quarter. B. Riley Financial Inc. now owns 50,425 shares of the company’s stock worth $758,000 after acquiring an additional 9,898 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of PowerShares Preferred Portfolio(ETF) during the 3rd quarter worth approximately $815,000.
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PowerShares Preferred Portfolio(ETF) Company 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.
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