Invesco Preferred ETF (NYSEARCA:PGX) Hits New 1-Year Low – Here’s What Happened

Invesco Preferred ETF (NYSEARCA:PGX) shares reached a new 52-week low on Tuesday . The company traded as low as $10.85 and last traded at $10.86, with a volume of 679191 shares traded. The stock had previously closed at $10.87.

Invesco Preferred ETF Trading Up 0.6%

The company’s fifty day moving average price is $11.06 and its 200 day moving average price is $11.21.

Institutional Investors Weigh In On Invesco Preferred ETF

Several hedge funds have recently modified their holdings of the company. Triumph Capital Management bought a new stake in Invesco Preferred ETF in the third quarter valued at approximately $29,000. Ransom Advisory Ltd bought a new position in Invesco Preferred ETF in the fourth quarter worth approximately $31,000. First United Bank & Trust raised its holdings in Invesco Preferred ETF by 32.1% during the first quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares during the last quarter. Bayban acquired a new position in Invesco Preferred ETF during the fourth quarter worth $52,000. Finally, Global Assets Advisory LLC bought a new position in shares of Invesco Preferred ETF in the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Company Profile

The PowerShares Preferred Portfolio (Fund) is based on The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index (Index). The Fund normally invest at least 90% of its total assets in securities that comprise the Index. The Index is designed to replicate the total return of a diversified group of investment-grade preferred securities. The Index is rebalanced on a monthly basis. The Fund seeks investment results that correspond generally to the price and yield (before fees and expenses) of a securities index.