Invesco Preferred ETF (NYSEARCA:PGX) Hits New 52-Week Low – What’s Next?

Invesco Preferred ETF (NYSEARCA:PGX) reached a new 52-week low during trading on Tuesday . The company traded as low as $10.36 and last traded at $10.3650, with a volume of 155233 shares. The stock had previously closed at $10.38.

Invesco Preferred ETF Price Performance

The firm has a 50-day moving average price of $10.67 and a 200-day moving average price of $10.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. New England Private Wealth Advisors LLC increased its position in shares of Invesco Preferred ETF by 2,024.5% during the fourth quarter. New England Private Wealth Advisors LLC now owns 1,227,261 shares of the company’s stock valued at $13,817,000 after acquiring an additional 1,169,495 shares in the last quarter. Transatlantique Private Wealth LLC lifted its position in Invesco Preferred ETF by 23.5% in the 4th quarter. Transatlantique Private Wealth LLC now owns 270,002 shares of the company’s stock valued at $3,035,000 after acquiring an additional 51,310 shares in the last quarter. Compass Financial Group Inc. Ohio purchased a new stake in Invesco Preferred ETF during the 4th quarter valued at $3,766,000. Stonebridge Advisors LLC increased its holdings in shares of Invesco Preferred ETF by 54.4% in the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock worth $13,315,000 after purchasing an additional 431,371 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in shares of Invesco Preferred ETF by 1,881.8% in the 4th quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock worth $24,255,000 after purchasing an additional 2,049,049 shares in the last quarter. Institutional investors own 8.60% of the company’s stock.

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.