Northwestern Mutual Wealth Management Co. grew its holdings in Invesco Preferred ETF (NYSEARCA:PGX – Free Report) by 1,385.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 578,008 shares of the company’s stock after acquiring an additional 539,097 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Invesco Preferred ETF were worth $6,497,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in PGX. Brighton Jones LLC purchased a new position in shares of Invesco Preferred ETF in the 4th quarter worth $626,000. Goldman Sachs Group Inc. grew its stake in shares of Invesco Preferred ETF by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after buying an additional 683,754 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Invesco Preferred ETF by 181.6% in the 1st quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock worth $4,714,000 after buying an additional 270,939 shares in the last quarter. Invesco Ltd. grew its stake in shares of Invesco Preferred ETF by 1.5% in the 2nd quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock worth $1,253,000 after buying an additional 1,693 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Invesco Preferred ETF in the 2nd quarter worth $679,000. 8.60% of the stock is owned by hedge funds and other institutional investors.
Invesco Preferred ETF Price Performance
Shares of NYSEARCA:PGX opened at $10.95 on Friday. Invesco Preferred ETF has a 52 week low of $10.83 and a 52 week high of $11.92. The firm has a fifty day simple moving average of $11.09 and a two-hundred day simple moving average of $11.25.
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.
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