Invesco Financial Preferred ETF (NYSEARCA:PGF) Sees Large Decline in Short Interest

Invesco Financial Preferred ETF (NYSEARCA:PGF) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 64,506 shares, a decline of 47.2% from the May 14th total of 122,185 shares. Based on an average daily trading volume, of 145,535 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Invesco Financial Preferred ETF Trading Up 0.1%

NYSEARCA:PGF traded up $0.01 during mid-day trading on Tuesday, hitting $13.85. The stock had a trading volume of 114,810 shares, compared to its average volume of 147,278. The company has a 50 day simple moving average of $13.93 and a 200-day simple moving average of $14.11. Invesco Financial Preferred ETF has a 52 week low of $13.66 and a 52 week high of $15.00.

Institutional Trading of Invesco Financial Preferred ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PGF. Royal Bank of Canada raised its position in shares of Invesco Financial Preferred ETF by 1.8% during the 1st quarter. Royal Bank of Canada now owns 140,584 shares of the exchange traded fund’s stock worth $2,009,000 after buying an additional 2,460 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Invesco Financial Preferred ETF by 33.0% in the 1st quarter. Jane Street Group LLC now owns 106,613 shares of the exchange traded fund’s stock worth $1,522,000 after purchasing an additional 26,457 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Invesco Financial Preferred ETF by 26.0% in the 2nd quarter. NewEdge Advisors LLC now owns 26,979 shares of the exchange traded fund’s stock worth $381,000 after purchasing an additional 5,574 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Invesco Financial Preferred ETF by 27.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 67,225 shares of the exchange traded fund’s stock worth $949,000 after purchasing an additional 14,517 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Invesco Financial Preferred ETF by 10.7% in the 2nd quarter. Bank of America Corp DE now owns 676,150 shares of the exchange traded fund’s stock worth $9,540,000 after purchasing an additional 65,309 shares in the last quarter.

About Invesco Financial Preferred ETF

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. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.