Invesco Preferred ETF (NYSEARCA:PGX) Shares Pass Below 50 Day Moving Average – What’s Next?

Shares of Invesco Preferred ETF (NYSEARCA:PGX) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.97 and traded as low as $10.85. Invesco Preferred ETF shares last traded at $10.86, with a volume of 2,212,079 shares trading hands.

Invesco Preferred ETF Stock Performance

The stock has a 50-day moving average of $10.97 and a 200-day moving average of $11.16.

Institutional Trading of Invesco Preferred ETF

Several large investors have recently modified their holdings of PGX. Ibex Wealth Advisors increased its position in shares of Invesco Preferred ETF by 0.8% in the first quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock worth $1,318,000 after purchasing an additional 909 shares during the period. New England Private Wealth Advisors LLC lifted its position in Invesco Preferred ETF by 1.6% during the fourth quarter. New England Private Wealth Advisors LLC now owns 58,682 shares of the company’s stock worth $660,000 after purchasing an additional 916 shares during the period. Apella Capital LLC lifted its position in Invesco Preferred ETF by 5.0% during the first quarter. Apella Capital LLC now owns 19,507 shares of the company’s stock worth $220,000 after purchasing an additional 929 shares during the period. Shepherd Kaplan Krochuk LLC grew its stake in Invesco Preferred ETF by 0.6% during the third quarter. Shepherd Kaplan Krochuk LLC now owns 153,126 shares of the company’s stock worth $1,776,000 after buying an additional 962 shares in the last quarter. Finally, Balanced Wealth Group LLC grew its stake in Invesco Preferred ETF by 2.4% during the first quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock worth $449,000 after buying an additional 965 shares in the last quarter. 8.60% of the stock is owned by institutional investors and hedge funds.

About Invesco Preferred ETF

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.