Baker Avenue Asset Management LP Has $4.76 Million Stock Position in Invesco Preferred ETF (NYSEARCA:PGX)

Baker Avenue Asset Management LP raised its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 81.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,585 shares of the company’s stock after buying an additional 185,757 shares during the quarter. Baker Avenue Asset Management LP owned about 0.11% of Invesco Preferred ETF worth $4,757,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PGX. Bank of America Corp DE lifted its position in shares of Invesco Preferred ETF by 14.9% in the 4th quarter. Bank of America Corp DE now owns 63,414,625 shares of the company’s stock worth $731,171,000 after acquiring an additional 8,205,825 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Invesco Preferred ETF by 9.5% during the fourth quarter. Wells Fargo & Company MN now owns 16,086,648 shares of the company’s stock worth $185,479,000 after buying an additional 1,397,140 shares in the last quarter. LPL Financial LLC increased its holdings in Invesco Preferred ETF by 14.8% during the 4th quarter. LPL Financial LLC now owns 14,706,360 shares of the company’s stock valued at $169,564,000 after purchasing an additional 1,897,392 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Invesco Preferred ETF in the fourth quarter valued at about $110,748,000. Finally, Spectrum Asset Management Inc. raised its stake in shares of Invesco Preferred ETF by 64.7% in the fourth quarter. Spectrum Asset Management Inc. now owns 5,771,517 shares of the company’s stock worth $66,546,000 after acquiring an additional 2,266,498 shares during the last quarter.

Invesco Preferred ETF Stock Up 0.5 %

NYSEARCA:PGX opened at $11.06 on Friday. Invesco Preferred ETF has a 52-week low of $10.70 and a 52-week high of $12.54. The stock’s fifty day moving average price is $11.25 and its two-hundred day moving average price is $11.61.

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.