Invesco Preferred ETF (NYSEARCA:PGX – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.62 and last traded at $10.63, with a volume of 2633751 shares traded. The stock had previously closed at $10.68.
Invesco Preferred ETF Stock Performance
The company’s 50-day moving average price is $10.82 and its 200-day moving average price is $11.05.
Institutional Investors Weigh In On Invesco Preferred ETF
Several large investors have recently added to or reduced their stakes in PGX. Bank of America Corp DE boosted its position in Invesco Preferred ETF by 3.4% in the 1st 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. Wells Fargo & Company MN increased its position in shares of Invesco Preferred ETF by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 15,374,528 shares of the company’s stock worth $172,810,000 after acquiring an additional 625,748 shares during the period. Spectrum Asset Management Inc. increased its position in shares of Invesco Preferred ETF by 47.9% during the fourth quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock worth $60,386,000 after acquiring an additional 1,739,156 shares during the period. UBS Group AG raised its stake in shares of Invesco Preferred ETF by 32.2% in the fourth quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock valued at $60,084,000 after acquiring an additional 1,300,981 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Invesco Preferred ETF by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,308,493 shares of the company’s stock valued at $59,667,000 after acquiring an additional 871,430 shares in the last quarter. 8.60% of the stock is owned by hedge funds and other institutional investors.
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.
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