Invesco Preferred ETF (NYSEARCA:PGX – Get Free Report) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 8,302,963 shares, a growth of 84.3% from the July 30th total of 4,506,048 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average trading volume of 2,917,008 shares, the short-interest ratio is currently 2.8 days.
Institutional Investors Weigh In On Invesco Preferred ETF
Hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management acquired a new position in shares of Invesco Preferred ETF in the 3rd quarter valued at approximately $29,000. First United Bank & Trust grew its position in shares of Invesco Preferred ETF by 32.1% during the first quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares in the last quarter. Bayban bought a new stake in shares of Invesco Preferred ETF in the fourth quarter worth $52,000. Global Assets Advisory LLC bought a new stake in shares of Invesco Preferred ETF in the first quarter worth $52,000. Finally, International Assets Investment Management LLC acquired a new stake in Invesco Preferred ETF in the fourth quarter valued at $55,000. 8.60% of the stock is currently owned by hedge funds and other institutional investors.
Invesco Preferred ETF Stock Down 0.4%
Shares of NYSEARCA PGX traded down $0.04 during midday trading on Friday, reaching $10.60. 2,694,635 shares of the company’s stock were exchanged, compared to its average volume of 3,219,072. Invesco Preferred ETF has a 52-week low of $10.54 and a 52-week high of $11.92. The business’s fifty day moving average price is $10.76 and its two-hundred day moving average price is $11.00.
About Invesco Preferred ETF
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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