Invesco Preferred ETF (NYSEARCA:PGX) Sets New 1-Year Low – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX) reached a new 52-week low on Monday . The stock traded as low as $10.53 and last traded at $10.54, with a volume of 1961284 shares trading hands. The stock had previously closed at $10.60.

Invesco Preferred ETF Stock Performance

The business has a 50-day moving average of $10.74 and a two-hundred day moving average of $10.99.

Institutional Trading of Invesco Preferred ETF

Institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC raised its stake in shares of Invesco Preferred ETF by 58.5% in the second quarter. Ameritas Advisory Services LLC now owns 20,432 shares of the company’s stock valued at $221,000 after purchasing an additional 7,541 shares in the last quarter. HB Wealth Management LLC boosted its stake in Invesco Preferred ETF by 23.4% during the second quarter. HB Wealth Management LLC now owns 13,387 shares of the company’s stock worth $145,000 after buying an additional 2,536 shares in the last quarter. Tudor Financial Inc. boosted its stake in Invesco Preferred ETF by 31,013.2% during the second quarter. Tudor Financial Inc. now owns 138,765 shares of the company’s stock worth $1,504,000 after buying an additional 138,319 shares in the last quarter. Sapient Capital LLC bought a new stake in Invesco Preferred ETF in the 2nd quarter valued at $133,000. Finally, Investors Research Corp increased its holdings in Invesco Preferred ETF by 5.3% in the 2nd quarter. Investors Research Corp now owns 609,077 shares of the company’s stock valued at $6,602,000 after buying an additional 30,800 shares during the period. 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.