Invesco Preferred ETF (NYSEARCA:PGX – Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $10.49 and last traded at $10.4950, with a volume of 3708728 shares trading hands. The stock had previously closed at $10.49.
Invesco Preferred ETF Price Performance
The stock has a 50-day simple moving average of $10.70 and a 200-day simple moving average of $10.95.
Institutional Trading of Invesco Preferred ETF
Hedge funds have recently made changes to their positions in the stock. Triumph Capital Management bought a new position in Invesco Preferred ETF during the 3rd quarter worth $29,000. First United Bank & Trust lifted its stake in Invesco Preferred ETF by 32.1% in the first quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock valued at $47,000 after buying an additional 1,055 shares during the last quarter. Bayban bought a new stake in Invesco Preferred ETF in the fourth quarter valued at $52,000. Global Assets Advisory LLC acquired a new position in shares of Invesco Preferred ETF during the first quarter valued at $52,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Invesco Preferred ETF during the fourth quarter valued at $55,000. Institutional investors own 8.60% of the company’s stock.
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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