Migdal Insurance & Financial Holdings Ltd. Acquires New Stake in Invesco Preferred ETF (NYSEARCA:PGX)

Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Invesco Preferred ETF (NYSEARCA:PGX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 850,000 shares of the company’s stock, valued at approximately $9,537,000. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.24% of Invesco Preferred ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Invesco Preferred ETF in the fourth quarter worth about $26,000. Tower Research Capital LLC TRC boosted its holdings in Invesco Preferred ETF by 52.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,940 shares of the company’s stock worth $45,000 after purchasing an additional 1,360 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Invesco Preferred ETF by 42.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 4,027 shares of the company’s stock valued at $46,000 after acquiring an additional 1,191 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of Invesco Preferred ETF in the fourth quarter valued at about $50,000. Finally, Ameriflex Group Inc. bought a new position in shares of Invesco Preferred ETF in the fourth quarter valued at about $91,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

PGX stock traded up $0.02 during mid-day trading on Friday, hitting $11.27. The stock had a trading volume of 68,507 shares, compared to its average volume of 5,506,649. The firm has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $11.29. Invesco Preferred ETF has a 52 week low of $10.70 and a 52 week high of $12.54.

Invesco Preferred ETF 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.