Principal Financial Group Inc. Decreases Stake in Invesco Preferred ETF $PGX

Principal Financial Group Inc. reduced its holdings in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 83.5% during the first quarter, HoldingsChannel reports. The firm owned 94,347 shares of the company’s stock after selling 476,348 shares during the period. Principal Financial Group Inc.’s holdings in Invesco Preferred ETF were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PGX. Global Assets Advisory LLC bought a new stake in Invesco Preferred ETF in the 1st quarter worth about $52,000. Fifth Third Bancorp lifted its stake in Invesco Preferred ETF by 25,538.8% during the 1st quarter. Fifth Third Bancorp now owns 146,141 shares of the company’s stock valued at $1,590,000 after acquiring an additional 145,571 shares during the period. Stonebridge Advisors LLC lifted its stake in Invesco Preferred ETF by 54.4% during the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock valued at $13,315,000 after acquiring an additional 431,371 shares during the period. Ibex Wealth Advisors boosted its holdings in shares of Invesco Preferred ETF by 0.8% during the 1st quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock valued at $1,318,000 after acquiring an additional 909 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Invesco Preferred ETF by 71.7% during the 1st quarter. Kestra Advisory Services LLC now owns 304,303 shares of the company’s stock valued at $3,311,000 after acquiring an additional 127,044 shares during the last quarter. 8.60% of the stock is owned by hedge funds and other institutional investors.

Invesco Preferred ETF Trading Down 0.1%

Shares of PGX stock opened at $10.73 on Friday. The company has a 50 day moving average price of $10.88 and a 200-day moving average price of $11.10. Invesco Preferred ETF has a 52 week low of $10.68 and a 52 week high of $11.92.

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.