Pines Wealth Management LLC Raises Position in Invesco Preferred ETF (NYSEARCA:PGX)

Pines Wealth Management LLC raised its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 11.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,706 shares of the company’s stock after purchasing an additional 3,386 shares during the quarter. Pines Wealth Management LLC’s holdings in Invesco Preferred ETF were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new stake in Invesco Preferred ETF in the 4th quarter valued at $26,000. Kentucky Trust Co purchased a new stake in Invesco Preferred ETF in the 4th quarter valued at $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at about $42,000. Tower Research Capital LLC TRC raised its holdings in shares of Invesco Preferred ETF by 52.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,940 shares of the company’s stock valued at $45,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its holdings in shares of 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 purchasing an additional 1,191 shares during the last quarter.

Invesco Preferred ETF Trading Down 0.4%

Shares of PGX stock opened at $11.02 on Friday. The firm has a 50-day moving average of $11.00 and a 200-day moving average of $11.41. Invesco Preferred ETF has a one year low of $10.70 and a one year 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.