PowerShares Preferred Portfolio(ETF) (NYSEARCA:PCEF) Shares Sold by Covington Capital Management

Covington Capital Management trimmed its stake in shares of PowerShares Preferred Portfolio(ETF) (NYSEARCA:PCEF) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,985 shares of the company’s stock after selling 2,325 shares during the quarter. Covington Capital Management owned 0.14% of PowerShares Preferred Portfolio(ETF) worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clarus Wealth Advisors bought a new position in PowerShares Preferred Portfolio(ETF) in the 4th quarter worth approximately $242,000. Citadel Advisors LLC purchased a new stake in shares of PowerShares Preferred Portfolio(ETF) during the fourth quarter valued at $247,000. ProVise Management Group LLC purchased a new stake in shares of PowerShares Preferred Portfolio(ETF) during the fourth quarter valued at $262,000. Merit Financial Group LLC purchased a new stake in shares of PowerShares Preferred Portfolio(ETF) during the fourth quarter valued at $424,000. Finally, IFP Advisors Inc boosted its stake in shares of PowerShares Preferred Portfolio(ETF) by 41.0% during the fourth quarter. IFP Advisors Inc now owns 18,440 shares of the company’s stock valued at $441,000 after purchasing an additional 5,358 shares during the period.

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Shares of PCEF traded down $0.07 during trading hours on Friday, reaching $22.94. 95,276 shares of the company traded hands, compared to its average volume of 147,789. PowerShares Preferred Portfoli has a 12-month low of $22.35 and a 12-month high of $24.24.

The firm also recently announced a monthly dividend, which was paid on Thursday, March 29th. Stockholders of record on Tuesday, March 20th were given a dividend of $0.1474 per share. This represents a $1.77 annualized dividend and a dividend yield of 7.71%. The ex-dividend date was Monday, March 19th.

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PowerShares Preferred Portfolio(ETF) Profile

PowerShares CEF Income Composite Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of the S-Network Composite Closed-End Fund Index (the Index). The Fund will normally invest at least 80% of its total assets in securities of funds included in the Index.

Institutional Ownership by Quarter for PowerShares Preferred Portfolio(ETF) (NYSEARCA:PCEF)

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