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PowerShares Financial Preferred Portfolio ETF (PGF)

- NYSEARCA
  • Jun. 21, 2013, 11:54 AM
    A check of the TBTFs finds Wells Fargo (WFC +0.9%) the only gainer amidst a floated report the Fed and FDIC are weighing a doubling in the "simple leverage ratio." Wells already exceeds the 6% proposed ratio, but presumably BofA (BAC -2.8%), JPMorgan (JPM -1.3%), Citigroup (C -4%), Goldman (GS -1.7%), and Morgan Stanley (MS -3.1%) would need to halt or pare back dividends and buybacks should the rule be implemented. The financial SPDR (XLF -1.4%).
    | 8 Comments
  • Mar. 14, 2013, 5:14 PM
    After hours movers in the banks: JPM -2.5% and GS -2.1% after the two had their capital proposals approved but were asked to submit new plans "to address weakness in their capital planning processes." WFC +0.4%, BAC +3.8% after no dividend hike, but a whopping $10.5B in share repurchases and redemption of high-yielding preferreds. Morgan Stanley +0.9%. The XLF +0.1%.
    | 18 Comments
  • Dec. 17, 2012, 6:50 PM
    Financials add to the regular session's big gains as Meredeth Whitney gets bullish on the sector, particularly Bank of America, Citigroup, and Discover. The catalyst for the group will be the March release of the Fed's stress tests showing them adequately capitalized, paving the way for more share repurchases and dividend bumps. BAC +2.1%, C +0.5%, DFS +2.3%, XLF +0.4% AH.
    | 8 Comments
  • Dec. 5, 2012, 9:44 AM
    Bank of America (BAC +2.2%) takes out a new 52-week high, rising on back of the Citigroup's plan to cut 11K jobs. Citi will take a $1B charge in Q4, but save more than $2B over two years - a pretty nice return on investment. The XLF +0.7%.
    | 11 Comments
  • Oct. 17, 2012, 3:35 PM
    Financials (XLF +1.2%) lead today's sectors and extend their lead as 2012's top performer, now up 25% YTD and 33% over the past 12 months. While investors struggle to gain clarity on BofA's (BAC -0.1%) prospects, M&T Bank (MTB +5.6%) and BNY Mellon (BK +5.2%) rank among the day’s big gainers after both reported strong quarters. C +3%, GS +1%, JPM +1.2%.
    | 1 Comment
  • Jul. 19, 2012, 1:03 PM
    The 30 bp decline in Bank of America's (BAC) net interest margin represents $1.27B in lost quarterly earnings power, says Josh Steiner, a "hit (that) is recurring, not one time." This deterioration in bank's underlying business may help explain the sharp decline in the stock (-4% today,  -4.8% yesterday) despite a headline beat on earnings thanks to a large reserve release.
    | 8 Comments
  • Jul. 18, 2012, 2:42 PM
    A nice in move higher in the broad averages leaves the big banks behind. Hit particularly hard is Bank of America (BAC -4.4%), which delivered a nice headline number, but the particulars of its underlying business (and future liabilities) leave less to be excited about. Reporting tomorrow is Morgan Stanley (MS -2.7%)
    | 5 Comments
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PGF Description
The PowerShares Financial Preferred Portfolio (Fund) is based on the Wachovia Hybrid & Preferred Securities Financial Index (WHPSsm Financial Index) (Index). The Fund will normally invest at least 90% of its total assets in preferred securities that comprise the Index. The Index tracks the performance of U.S. listed preferred stocks of preferred stocks issued in the US market by financial institutions and currently includes approximately 30 securities selected by Wachovia pursuant to a proprietary selection methodology. The market-cap weighted Index is rebalanced monthly.
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Sector: Financial
Country: United States
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