Independent Advisor Alliance Invests $839,000 in Invesco Preferred ETF (NYSEARCA:PGX)

Independent Advisor Alliance acquired a new position in Invesco Preferred ETF (NYSEARCA:PGX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 72,744 shares of the company’s stock, valued at approximately $839,000.

A number of other institutional investors have also made changes to their positions in the business. Sowell Financial Services LLC increased its stake in shares of Invesco Preferred ETF by 3.4% in the fourth quarter. Sowell Financial Services LLC now owns 231,392 shares of the company’s stock worth $2,668,000 after purchasing an additional 7,576 shares during the period. Coordinated Financial Services Inc. bought a new position in shares of Invesco Preferred ETF in the fourth quarter worth about $129,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Invesco Preferred ETF by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,505 shares of the company’s stock worth $337,000 after purchasing an additional 1,831 shares during the period. Beam Wealth Advisors Inc. increased its stake in shares of Invesco Preferred ETF by 1.3% in the fourth quarter. Beam Wealth Advisors Inc. now owns 106,368 shares of the company’s stock worth $1,226,000 after purchasing an additional 1,376 shares during the period. Finally, One Capital Management LLC increased its stake in shares of Invesco Preferred ETF by 818.6% in the fourth quarter. One Capital Management LLC now owns 780,407 shares of the company’s stock worth $8,998,000 after purchasing an additional 695,449 shares during the period.

Invesco Preferred ETF Trading Up 0.6 %

Invesco Preferred ETF stock opened at $11.55 on Friday. Invesco Preferred ETF has a 52 week low of $11.23 and a 52 week high of $12.54. The business’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $11.90.

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.