GWM Advisors LLC Reduces Holdings in Invesco Financial Preferred ETF (NYSEARCA:PGF)

GWM Advisors LLC lowered its position in Invesco Financial Preferred ETF (NYSEARCA:PGF) by 10.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,878 shares of the exchange traded fund’s stock after selling 3,945 shares during the period. GWM Advisors LLC’s holdings in Invesco Financial Preferred ETF were worth $600,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. AJ Wealth Strategies LLC raised its position in Invesco Financial Preferred ETF by 147.3% in the 1st quarter. AJ Wealth Strategies LLC now owns 52,522 shares of the exchange traded fund’s stock worth $959,000 after purchasing an additional 31,280 shares during the period. Noven Financial Group Inc. increased its position in shares of Invesco Financial Preferred ETF by 2.7% during the first quarter. Noven Financial Group Inc. now owns 31,405 shares of the exchange traded fund’s stock worth $573,000 after acquiring an additional 838 shares during the period. MML Investors Services LLC increased its position in shares of Invesco Financial Preferred ETF by 2.5% during the first quarter. MML Investors Services LLC now owns 195,800 shares of the exchange traded fund’s stock worth $3,575,000 after acquiring an additional 4,725 shares during the period. Sawtooth Solutions LLC increased its position in shares of Invesco Financial Preferred ETF by 1.8% during the first quarter. Sawtooth Solutions LLC now owns 80,282 shares of the exchange traded fund’s stock worth $1,466,000 after acquiring an additional 1,416 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Invesco Financial Preferred ETF by 4.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 144,544 shares of the exchange traded fund’s stock valued at $2,639,000 after purchasing an additional 6,392 shares in the last quarter.

Separately, Raymond James reiterated a “sell” rating and set a $0.50 price objective on shares of Invesco Financial Preferred ETF in a research note on Thursday, May 9th.

Shares of PGF stock traded down $0.04 on Friday, reaching $18.50. 248,610 shares of the company were exchanged, compared to its average volume of 471,026. The firm has a 50-day moving average of $18.46. Invesco Financial Preferred ETF has a 1 year low of $16.99 and a 1 year high of $18.75.

Invesco Financial Preferred ETF 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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Institutional Ownership by Quarter for Invesco Financial Preferred ETF (NYSEARCA:PGF)

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