Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 1-Year Low – Here’s What Happened

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.76 and last traded at $10.77, with a volume of 537939 shares traded. The stock had previously closed at $10.79.

Invesco Preferred ETF Stock Performance

The company has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $11.13.

Institutional Investors Weigh In On Invesco Preferred ETF

Several institutional investors have recently added to or reduced their stakes in PGX. Triumph Capital Management purchased a new position in Invesco Preferred ETF during the 3rd quarter valued at about $29,000. First United Bank & Trust lifted its holdings in Invesco Preferred ETF by 32.1% in the 1st quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares during the period. Bayban purchased a new stake in Invesco Preferred ETF in the 4th quarter worth approximately $52,000. Global Assets Advisory LLC bought a new stake in shares of Invesco Preferred ETF in the 1st quarter worth approximately $52,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Invesco Preferred ETF in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Company 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.