Invesco Financial Preferred ETF (NYSEARCA:PGF) Reaches New 1-Year Low – Should You Sell?

Invesco Financial Preferred ETF (NYSEARCA:PGF) shares hit a new 52-week low on Wednesday. The stock traded as low as $13.01 and last traded at $12.9760, with a volume of 48425 shares traded. The stock had previously closed at $13.10.

Invesco Financial Preferred ETF Stock Performance

The stock’s 50 day moving average price is $13.40 and its 200-day moving average price is $13.72.

Institutional Trading of Invesco Financial Preferred ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. North Star Investment Management Corp. grew its stake in Invesco Financial Preferred ETF by 19.0% in the first quarter. North Star Investment Management Corp. now owns 318,191 shares of the exchange traded fund’s stock valued at $4,378,000 after purchasing an additional 50,749 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Invesco Financial Preferred ETF during the second quarter valued at about $844,000. Fifth Third Bancorp purchased a new stake in shares of Invesco Financial Preferred ETF during the first quarter valued at about $1,021,000. Kestra Advisory Services LLC boosted its holdings in shares of Invesco Financial Preferred ETF by 18.7% in the 1st quarter. Kestra Advisory Services LLC now owns 23,430 shares of the exchange traded fund’s stock valued at $322,000 after buying an additional 3,698 shares in the last quarter. Finally, Cim LLC boosted its holdings in shares of Invesco Financial Preferred ETF by 3.5% in the 1st quarter. Cim LLC now owns 28,491 shares of the exchange traded fund’s stock valued at $392,000 after buying an additional 969 shares in the last quarter.

About Invesco Financial Preferred ETF

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.