Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 52-Week Low – Time to Sell?

Invesco Preferred ETF (NYSEARCA:PGX) shares reached a new 52-week low 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 Down 0.5%

The firm’s fifty day moving average is $10.89 and its two-hundred day moving average is $11.12.

Hedge Funds Weigh In On Invesco Preferred ETF

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in Invesco Preferred ETF by 3.4% during the first quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock valued at $882,733,000 after buying an additional 2,684,132 shares during the period. Cohen & Steers Inc. increased its holdings in Invesco Preferred ETF by 1,881.8% during the fourth quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock worth $24,255,000 after buying an additional 2,049,049 shares during the last quarter. First Trust Advisors LP bought a new stake in Invesco Preferred ETF in the fourth quarter worth about $22,103,000. Spectrum Asset Management Inc. raised its position in Invesco Preferred ETF by 47.9% in the fourth quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock worth $60,386,000 after acquiring an additional 1,739,156 shares during the period. Finally, UBS Group AG boosted its stake in Invesco Preferred ETF by 32.2% in the fourth 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 last quarter. 8.60% of the stock is owned by institutional investors.

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.