Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Update

Invesco Preferred ETF (NYSEARCA:PGX) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 3,682,290 shares, the short-interest ratio is presently 1.7 days. Currently, 1.9% of the shares of the stock are sold short. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 3,682,290 shares, the short-interest ratio is presently 1.7 days.

Invesco Preferred ETF Stock Up 0.2%

NYSEARCA PGX traded up $0.02 during trading on Tuesday, reaching $11.24. 3,831,800 shares of the company traded hands, compared to its average volume of 5,418,191. The stock’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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PGX. Leading Edge Financial Planning LLC acquired a new position in shares of Invesco Preferred ETF in the 2nd quarter valued at $154,000. Charles Schwab Trust Co grew its stake in Invesco Preferred ETF by 116.1% in the second quarter. Charles Schwab Trust Co now owns 244,667 shares of the company’s stock valued at $2,723,000 after acquiring an additional 131,429 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of Invesco Preferred ETF by 120.7% in the first quarter. Belpointe Asset Management LLC now owns 53,149 shares of the company’s stock worth $596,000 after acquiring an additional 29,066 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Invesco Preferred ETF during the 2nd quarter valued at about $420,000. Finally, MainStreet Investment Advisors LLC acquired a new position in shares of Invesco Preferred ETF in the 2nd quarter valued at approximately $228,000. 8.60% of the stock is currently owned by institutional investors and hedge funds.

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.