Shares of Invesco Preferred ETF (NYSEARCA:PGX – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.68 and last traded at $10.68, with a volume of 3612125 shares changing hands. The stock had previously closed at $10.73.
Invesco Preferred ETF Trading Up 0.6%
The business has a fifty day moving average of $10.88 and a 200 day moving average of $11.11.
Hedge Funds Weigh In On Invesco Preferred ETF
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Invesco Preferred ETF by 3.4% during the 1st quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock worth $882,733,000 after buying an additional 2,684,132 shares during the last quarter. Cohen & Steers Inc. grew its stake in Invesco Preferred ETF by 1,881.8% in the 4th quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock valued at $24,255,000 after buying an additional 2,049,049 shares during the last quarter. First Trust Advisors LP acquired a new position in Invesco Preferred ETF in the 4th quarter valued at about $22,103,000. Spectrum Asset Management Inc. raised its holdings in Invesco Preferred ETF by 47.9% in the 4th quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock valued at $60,386,000 after acquiring an additional 1,739,156 shares during the period. Finally, UBS Group AG raised its holdings in Invesco Preferred ETF by 32.2% in the 4th quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock valued at $60,084,000 after acquiring an additional 1,300,981 shares during the period. 8.60% of the stock is owned by institutional investors.
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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