Stonebridge Advisors LLC Has $13.31 Million Position in Invesco Preferred ETF $PGX

Stonebridge Advisors LLC boosted its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 54.4% in the first quarter, Holdings Channel.com reports. The fund owned 1,223,779 shares of the company’s stock after acquiring an additional 431,371 shares during the quarter. Invesco Preferred ETF comprises 15.7% of Stonebridge Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Stonebridge Advisors LLC’s holdings in Invesco Preferred ETF were worth $13,315,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PGX. Triumph Capital Management bought a new stake in shares of Invesco Preferred ETF during the third quarter worth $29,000. Ransom Advisory Ltd bought a new position in shares of Invesco Preferred ETF in the fourth quarter worth about $31,000. First United Bank & Trust increased its stake in Invesco Preferred ETF by 32.1% in the 1st 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 period. Bayban bought a new stake in Invesco Preferred ETF during the 4th quarter valued at about $52,000. Finally, International Assets Investment Management LLC bought a new stake in Invesco Preferred ETF during the 4th quarter valued at about $55,000. Institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

Invesco Preferred ETF stock traded down $0.01 during trading hours on Friday, hitting $10.85. The company had a trading volume of 2,849,857 shares, compared to its average volume of 3,217,198. The company has a 50-day moving average price of $10.96 and a two-hundred day moving average price of $11.16. Invesco Preferred ETF has a 1 year low of $10.76 and a 1 year high of $11.92.

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.