Pinnacle Associates Ltd. reduced its position in PowerShares Fin. Preferred Port. (NYSEARCA:PGF) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,981 shares of the exchange traded fund’s stock after selling 2,694 shares during the quarter. Pinnacle Associates Ltd. owned 0.07% of PowerShares Fin. Preferred Port. worth $1,119,000 as of its most recent SEC filing.
Separately, Captrust Financial Advisors raised its holdings in shares of PowerShares Fin. Preferred Port. by 361.3% in the third quarter. Captrust Financial Advisors now owns 18,769 shares of the exchange traded fund’s stock valued at $356,000 after acquiring an additional 14,700 shares in the last quarter.
PowerShares Fin. Preferred Port. (NYSEARCA:PGF) traded up $0.04 on Monday, reaching $19.02. The company’s stock had a trading volume of 178,100 shares, compared to its average volume of 314,211. PowerShares Fin. Preferred Port. has a 52 week low of $17.65 and a 52 week high of $19.17.
Several analysts recently weighed in on PGF shares. Royal Bank Of Canada restated a “hold” rating on shares of PowerShares Fin. Preferred Port. in a report on Monday, October 23rd. Canaccord Genuity restated a “sell” rating on shares of PowerShares Fin. Preferred Port. in a report on Sunday, November 5th.
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About PowerShares Fin. Preferred Port.
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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