Spectrum Asset Management Inc. lessened its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX – Free Report) by 27.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,902,745 shares of the company’s stock after selling 1,469,681 shares during the period. Invesco Preferred ETF comprises 84.8% of Spectrum Asset Management Inc.’s holdings, making the stock its largest holding. Spectrum Asset Management Inc. owned 1.11% of Invesco Preferred ETF worth $42,462,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PGX. Ibex Wealth Advisors grew its holdings in shares of Invesco Preferred ETF by 0.8% during the first quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock worth $1,318,000 after purchasing an additional 909 shares during the last quarter. New England Private Wealth Advisors LLC raised its stake in shares of Invesco Preferred ETF by 1.6% during the fourth quarter. New England Private Wealth Advisors LLC now owns 58,682 shares of the company’s stock valued at $660,000 after acquiring an additional 916 shares during the last quarter. Apella Capital LLC raised its stake in shares of Invesco Preferred ETF by 5.0% during the first quarter. Apella Capital LLC now owns 19,507 shares of the company’s stock valued at $220,000 after acquiring an additional 929 shares during the last quarter. Balanced Wealth Group LLC lifted its holdings in shares of Invesco Preferred ETF by 2.4% during the first quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock worth $449,000 after purchasing an additional 965 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Invesco Preferred ETF by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,192 shares of the company’s stock valued at $182,000 after purchasing an additional 1,046 shares during the period. 8.60% of the stock is owned by institutional investors.
Invesco Preferred ETF Stock Down 0.2%
Shares of PGX opened at $10.83 on Tuesday. The stock’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $11.15. Invesco Preferred ETF has a 12 month low of $10.76 and a 12 month high of $11.92.
Invesco Preferred ETF 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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