Invesco Preferred ETF (NYSEARCA:PGX) Sets New 52-Week Low – Should You Sell?

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.85 and last traded at $10.86, with a volume of 679191 shares changing hands. The stock had previously closed at $10.87.

Invesco Preferred ETF Stock Performance

The company’s 50 day simple moving average is $11.06 and its two-hundred day simple moving average is $11.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Invesco Preferred ETF by 3.4% in the first quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock worth $882,733,000 after acquiring an additional 2,684,132 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Invesco Preferred ETF by 1,881.8% in the fourth quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock valued at $24,255,000 after purchasing an additional 2,049,049 shares in the last quarter. First Trust Advisors LP bought a new position in Invesco Preferred ETF in the 4th quarter worth approximately $22,103,000. Spectrum Asset Management Inc. lifted its holdings in Invesco Preferred ETF by 47.9% during the 4th quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock worth $60,386,000 after buying an additional 1,739,156 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Invesco Preferred ETF by 32.2% during the 4th quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock worth $60,084,000 after buying an additional 1,300,981 shares in the last quarter. Institutional investors and hedge funds 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.