Murphy & Mullick Capital Management Corp Buys Shares of 45,845 Invesco Preferred ETF (NYSEARCA:PGX)

Murphy & Mullick Capital Management Corp purchased a new stake in Invesco Preferred ETF (NYSEARCA:PGX) during the 4th quarter, Holdings Channel reports. The firm purchased 45,845 shares of the company’s stock, valued at approximately $529,000.

Other hedge funds also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new position in Invesco Preferred ETF in the 4th quarter valued at about $264,000. LPL Financial LLC increased its position in shares of Invesco Preferred ETF by 14.8% during the 4th quarter. LPL Financial LLC now owns 14,706,360 shares of the company’s stock valued at $169,564,000 after purchasing an additional 1,897,392 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Invesco Preferred ETF in the 4th quarter worth $50,000. GWN Securities Inc. acquired a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at $307,000. Finally, Collaborative Wealth Managment Inc. bought a new position in Invesco Preferred ETF during the fourth quarter valued at about $146,000.

Invesco Preferred ETF Trading Up 0.1 %

Shares of Invesco Preferred ETF stock opened at $11.48 on Wednesday. Invesco Preferred ETF has a 52 week low of $11.23 and a 52 week high of $12.54. The company’s 50-day moving average price is $11.60 and its two-hundred day moving average price is $11.88.

Invesco Preferred ETF Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be issued a dividend of $0.0563 per share. This is a boost from Invesco Preferred ETF’s previous dividend of $0.05. The ex-dividend date is Monday, March 24th.

About Invesco Preferred ETF

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.