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

Shares of Invesco Preferred ETF (NYSEARCA:PGX) reached a new 52-week low on Monday . The stock traded as low as $10.76 and last traded at $10.84, with a volume of 658 shares trading hands. The stock had previously closed at $10.84.

Invesco Preferred ETF Trading Up 0.2%

The stock’s fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $11.18.

Institutional Investors Weigh In On Invesco Preferred ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in 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 acquiring an additional 2,684,132 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Invesco Preferred ETF by 4.2% in the 4th quarter. Wells Fargo & Company MN now owns 15,374,528 shares of the company’s stock worth $172,810,000 after purchasing an additional 625,748 shares during the last quarter. Spectrum Asset Management Inc. boosted its position in Invesco Preferred ETF by 47.9% during the 4th quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock valued at $60,386,000 after purchasing an additional 1,739,156 shares during the period. UBS Group AG grew its stake in Invesco Preferred ETF by 32.2% during the 4th quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock worth $60,084,000 after buying an additional 1,300,981 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Invesco Preferred ETF by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,308,493 shares of the company’s stock worth $59,667,000 after buying an additional 871,430 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.