1620 Investment Advisors Inc. Has $689,000 Stake in Invesco Preferred ETF (NYSEARCA:PGX)

1620 Investment Advisors Inc. cut its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,729 shares of the company’s stock after selling 2,642 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Invesco Preferred ETF were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Spectrum Asset Management Inc. grew its stake in Invesco Preferred ETF by 64.7% in the fourth quarter. Spectrum Asset Management Inc. now owns 5,771,517 shares of the company’s stock valued at $66,546,000 after acquiring an additional 2,266,498 shares during the period. Raymond James Financial Inc. bought a new stake in Invesco Preferred ETF during the 4th quarter worth approximately $29,537,000. JPMorgan Chase & Co. raised its holdings in Invesco Preferred ETF by 71.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,789,236 shares of the company’s stock worth $22,097,000 after buying an additional 746,783 shares during the period. Commonwealth Equity Services LLC lifted its stake in Invesco Preferred ETF by 11.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,448,097 shares of the company’s stock valued at $16,697,000 after buying an additional 148,346 shares in the last quarter. Finally, Advisors Management Group Inc. ADV boosted its holdings in shares of Invesco Preferred ETF by 3.8% in the fourth quarter. Advisors Management Group Inc. ADV now owns 1,288,642 shares of the company’s stock valued at $14,858,000 after buying an additional 47,652 shares during the period.

Invesco Preferred ETF Stock Performance

Shares of NYSEARCA:PGX opened at $11.56 on Friday. Invesco Preferred ETF has a 12 month low of $11.23 and a 12 month high of $12.54. The company’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $11.89.

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.