PowerShares Preferred Portfolio(ETF) (PGX) Short Interest Down 58.7% in November

PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,388,937 shares, a decrease 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 currently 0.9 days.

Shares of PowerShares Preferred Portfoli (NYSEARCA:PGX) opened at $14.96 on Tuesday. PowerShares Preferred Portfoli has a fifty-two week low of $14.07 and a fifty-two week high of $15.20.

The firm also recently announced a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th will be issued a $0.068 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Monday, December 18th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGX. Apriem Advisors acquired a new stake in PowerShares Preferred Portfolio(ETF) in the 3rd quarter valued at approximately $5,264,000. AlphaStar Capital Management LLC grew its holdings in PowerShares Preferred Portfolio(ETF) by 3,538.6% in the 3rd quarter. AlphaStar Capital Management LLC now owns 217,808 shares of the company’s stock valued at $3,274,000 after buying an additional 211,822 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in PowerShares Preferred Portfolio(ETF) by 23.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 820,874 shares of the company’s stock valued at $12,337,000 after buying an additional 155,889 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in PowerShares Preferred Portfolio(ETF) by 14.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 712,134 shares of the company’s stock valued at $10,703,000 after buying an additional 87,429 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of PowerShares Preferred Portfolio(ETF) by 26.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 398,345 shares of the company’s stock worth $5,987,000 after acquiring an additional 83,272 shares during the period.

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About PowerShares Preferred Portfolio(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.

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