MV Capital Management Inc. grew its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 506,812 shares of the company’s stock after purchasing an additional 152,741 shares during the quarter. Invesco Preferred ETF accounts for 1.4% of MV Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. MV Capital Management Inc. owned 0.11% of Invesco Preferred ETF worth $7,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in PGX. Crew Capital Management Ltd. bought a new stake in Invesco Preferred ETF in the first quarter valued at about $1,585,000. Essex Financial Services Inc. acquired a new stake in Invesco Preferred ETF in the fourth quarter worth approximately $173,000. Private Advisor Group LLC lifted its position in Invesco Preferred ETF by 46.9% in the first quarter. Private Advisor Group LLC now owns 566,508 shares of the company’s stock worth $8,498,000 after purchasing an additional 180,856 shares during the period. Prairiewood Capital LLC lifted its position in Invesco Preferred ETF by 11.4% in the first quarter. Prairiewood Capital LLC now owns 155,019 shares of the company’s stock worth $2,325,000 after purchasing an additional 15,807 shares during the period. Finally, Checchi Capital Advisers LLC lifted its position in Invesco Preferred ETF by 655.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 296,218 shares of the company’s stock worth $4,520,000 after purchasing an additional 256,998 shares during the period.
PGX traded up $0.01 during trading on Friday, reaching $15.22. The stock had a trading volume of 1,100 shares, compared to its average volume of 3,639,858. Invesco Preferred ETF has a 1-year low of $14.03 and a 1-year high of $15.28. The stock has a 50 day simple moving average of $15.08.
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.
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