When a company such as Invesco Exchange-Traded Fund Trust - Financial Preferred ETF conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the PGF split history from start to finish, an original position size of 1000 shares would have turned into 250 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Invesco Exchange-Traded Fund Trust - Financial Preferred ETF shares, starting with a $10,000 purchase of PGF, presented on a split-history-adjusted basis factoring in the complete PGF split history.

About Invesco Exchange-Traded Fund Trust - Financial Preferred ETF

PowerShares Financial Preferred Portfolio is an open-end management investment company. The Fund seeks investment results that correspond generally to the price and yield of the Wells Fargo Hybrid & Preferred Securities Financial Index (the Index). The Index attempts to portray a cross-section of preferred securities issued by financial institutions and listed on the NYSE or NYSE MKT. The constituents are selected using a proprietary selection methodology based on a number of criteria. The constituents are then weighted by a modified market capitalization methodology. As of Apr 30 2013, the Fund's total assets were $1,960,627,658 and the Fund's investments portfolio valued $1,945,220,295. According to our PGF split history records, Invesco Exchange-Traded Fund Trust - Financial Preferred ETF has had 1 split.

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