Invesco rises on $1 bln preferred stock repurchase by MassMutual, Q1 profit beat

American investment management company Invesco Ltd's IVZ.N shares rise 6.8% to $13.3 premarket

Co announced $1 bln repurchase of Series A Preferred Stock held by MassMutual

Co reported Q1 profit of $0.44 per share helped by higher fee income, beating average analysts' estimate of $0.38, according to data compiled by LSEG

Co reported Q1 revenue of $1.5 bln vs estimate of $1.1 bln

Co increased quarterly common stock dividend to $0.21 per share

As of last close, stock had fallen 28.72% YTD