Shares of Invesco Preferred ETF (NYSEARCA:PGX – Get Free Report) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.97 and traded as low as $10.85. Invesco Preferred ETF shares last traded at $10.86, with a volume of 2,212,079 shares trading hands.
Invesco Preferred ETF Trading Down 0.1%
The company’s fifty day moving average is $10.96 and its two-hundred day moving average is $11.16.
Institutional Investors Weigh In On Invesco Preferred ETF
Several hedge funds have recently modified their holdings of PGX. Investors Research Corp increased its position in shares of Invesco Preferred ETF by 5.3% during the second quarter. Investors Research Corp now owns 609,077 shares of the company’s stock worth $6,602,000 after acquiring an additional 30,800 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Invesco Preferred ETF by 15.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 47,432 shares of the company’s stock valued at $514,000 after purchasing an additional 6,385 shares during the last quarter. Sapient Capital LLC acquired a new stake in Invesco Preferred ETF during the 2nd quarter valued at approximately $133,000. Aletheian Wealth Advisors LLC grew its stake in Invesco Preferred ETF by 16.0% during the 2nd quarter. Aletheian Wealth Advisors LLC now owns 62,759 shares of the company’s stock valued at $680,000 after purchasing an additional 8,642 shares in the last quarter. Finally, Brighton Securities CORP. raised its position in shares of Invesco Preferred ETF by 5.0% in the 2nd quarter. Brighton Securities CORP. now owns 176,237 shares of the company’s stock valued at $1,910,000 after purchasing an additional 8,374 shares in the last quarter. 8.60% of the stock is currently owned by hedge funds and other institutional investors.
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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