Short Interest in Invesco Preferred ETF (NYSEARCA:PGX) Grows By 48.0%

Invesco Preferred ETF (NYSEARCA:PGX) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 6,391,183 shares, a growth of 48.0% from the November 30th total of 4,318,307 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 3,682,290 shares, the short-interest ratio is presently 1.7 days. Based on an average daily trading volume, of 3,682,290 shares, the short-interest ratio is presently 1.7 days. Currently, 1.9% of the company’s stock are sold short.

Invesco Preferred ETF Stock Down 0.0%

NYSEARCA:PGX traded down $0.01 during trading hours on Monday, reaching $11.23. 3,567,838 shares of the company traded hands, compared to its average volume of 5,422,433. The business’s 50-day moving average price is $11.35 and its two-hundred day moving average price is $11.40. Invesco Preferred ETF has a 1 year low of $10.70 and a 1 year high of $11.92.

Hedge Funds Weigh In On Invesco Preferred ETF

Hedge funds have recently bought and sold shares of the company. Triumph Capital Management purchased a new stake in shares of Invesco Preferred ETF during the third quarter valued at approximately $29,000. Clearstead Trust LLC purchased a new stake in shares of Invesco Preferred ETF during the 2nd quarter valued at about $32,000. Abound Wealth Management bought a new position in Invesco Preferred ETF in the second quarter worth approximately $33,000. Motco purchased a new position in shares of Invesco Preferred ETF during the 2nd quarter worth $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Invesco Preferred ETF during the 2nd quarter valued at $44,000. Institutional investors 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.