Morgan Stanley’s Positive Outlook
On September 30, 2024, financial giant Morgan Stanley made waves by upgrading their stance on U.S. Bancorp – Preferred Stock (NYSE:USB.PRP) from ‘Equal-Weight’ to ‘Overweight’. This notable shift signifies a newfound confidence in the potential of USB.PRP in the current market landscape.
Fund Sentiment Analysis
Analyzing the fund sentiment surrounding U.S. Bancorp – Preferred Stock reveals intriguing patterns. Currently, there are 21 funds or institutions holding positions in USB.PRP. Interestingly, this marks a slight decline of 1 owner(s) or 4.55% over the past quarter. Despite this decrease in ownership, the average portfolio weight dedicated to USB.PRP has seen a notable uptick, increasing by 2.56%. Total institutional shares in USB.PRP have slightly decreased by 4.23% in the last three months, totaling 5,245K shares.
Delving deeper into the shareholder landscape, we observe notable movements by prominent entities. PFF – iShares Preferred and Income Securities ETF, for instance, have slightly reduced their holdings in USB.PRP from 2,236K shares to 2,186K shares, marking a decrease of 2.29%. Similarly, PGX – Invesco Preferred ETF and PFFD – Global X U.S. Preferred ETF have also experienced reductions in their portfolio allocations in USB.PRP over the last quarter.
Alternatively, PGF – Invesco Financial Preferred ETF has bucked the trend by increasing its portfolio allocation in USB.PRP by 1.51% over the same period. These fluctuations in shareholder actions provide a dynamic glimpse into the evolving perceptions of U.S. Bancorp – Preferred Stock within the investment community.
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