Invesco Preferred ETF (NYSEARCA:PGX) Sets New 12-Month Low – Here’s What Happened

Shares of Invesco Preferred ETF (NYSEARCA:PGX) reached a new 52-week low on Wednesday. The company traded as low as $9.98 and last traded at $10.0050, with a volume of 455545 shares trading hands. The stock had previously closed at $10.06.

Invesco Preferred ETF Stock Down 0.4%

The company’s fifty day simple moving average is $10.49 and its two-hundred day simple moving average is $10.81.

Institutional Trading of Invesco Preferred ETF

Several hedge funds have recently bought and sold shares of PGX. Bank of America Corp DE boosted its holdings in shares of Invesco Preferred ETF by 3.4% in the first quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock valued at $882,733,000 after buying an additional 2,684,132 shares during the period. Allworth Financial LP lifted its holdings in shares of Invesco Preferred ETF by 2.1% in the second quarter. Allworth Financial LP now owns 3,438,874 shares of the company’s stock valued at $37,277,000 after purchasing an additional 71,096 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Invesco Preferred ETF by 1,881.8% during the fourth quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock worth $24,255,000 after buying an additional 2,049,049 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Invesco Preferred ETF by 3.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,389,774 shares of the company’s stock valued at $15,121,000 after acquiring an additional 44,155 shares in the last quarter. Finally, Stonebridge Advisors LLC boosted its position in Invesco Preferred ETF by 54.4% during the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock worth $13,315,000 after acquiring an additional 431,371 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors and hedge funds.

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.