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ETFs
Posted on 11/03/09 at 3:32pm by The ETF Professor
The ETF Professor has been watching the PowerShares Financial Preferred ETF (NYSE: PGF) for a little while now and thinks it's a candidate for a short unless you're an investor with a very long time horizon.
PGF holds preferred stocks in firms like Bank of America (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM) and MetLife (NYSE: MET) and several international financial services firms. As such, PGF offers a strong 9% yield, which should be attractive for those with long-term time horizons.
That said, the technicals appear as the chart attached indicates. PGF gapped below its 50-day moving average today and is trading lower on more than twice its average daily volume. In addition, down volume has been increasing in recent days, indicating the bears may have their sights set on PGF.
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These are preferred shares
by Anonymous on 11/30/09 10:53am
These are preferred shares and do not have 'technicals' like stocks. They are more like bonds where ratings and interest rates hold sway.
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