Steward Partners Investment Advisory LLC Acquires New Position in PowerShares Fin. Preferred Port. (PGF)

Steward Partners Investment Advisory LLC acquired a new stake in shares of PowerShares Fin. Preferred Port. (NYSEARCA:PGF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,745 shares of the exchange traded fund’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PGF. Cedar Hill Associates LLC acquired a new position in shares of PowerShares Fin. Preferred Port. in the 3rd quarter worth approximately $210,000. Captrust Financial Advisors grew its position in shares of PowerShares Fin. Preferred Port. by 361.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,769 shares of the exchange traded fund’s stock worth $356,000 after acquiring an additional 14,700 shares in the last quarter. Cahill Financial Advisors Inc. grew its position in shares of PowerShares Fin. Preferred Port. by 17.2% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 20,450 shares of the exchange traded fund’s stock worth $388,000 after acquiring an additional 3,000 shares in the last quarter. Cetera Investment Advisers grew its position in shares of PowerShares Fin. Preferred Port. by 18.8% in the 3rd quarter. Cetera Investment Advisers now owns 22,039 shares of the exchange traded fund’s stock worth $418,000 after acquiring an additional 3,489 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position in shares of PowerShares Fin. Preferred Port. by 456.3% in the 3rd quarter. Susquehanna International Group LLP now owns 41,330 shares of the exchange traded fund’s stock worth $784,000 after acquiring an additional 52,930 shares in the last quarter.

Shares of PowerShares Fin. Preferred Port. (PGF) opened at $18.87 on Wednesday. PowerShares Fin. Preferred Port. has a 12 month low of $17.80 and a 12 month high of $19.17.

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 paid a dividend of $0.088 per share. The ex-dividend date is Monday, December 18th. This represents a $1.06 annualized dividend and a yield of 5.60%. This is an increase from PowerShares Fin. Preferred Port.’s previous monthly dividend of $0.08. PowerShares Fin. Preferred Port.’s payout ratio is presently 66.89%.

Several research analysts have recently commented on PGF shares. Royal Bank of Canada reiterated a “hold” rating on shares of PowerShares Fin. Preferred Port. in a research report on Monday, October 23rd. Canaccord Genuity restated a “sell” rating on shares of PowerShares Fin. Preferred Port. in a research report on Sunday, November 5th.

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PowerShares Fin. Preferred Port. 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.

Institutional Ownership by Quarter for PowerShares Fin. Preferred Port. (NYSEARCA:PGF)

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