Invesco Preferred ETF (NYSEARCA:PGX) Hits New 12-Month Low – Here’s What Happened

Invesco Preferred ETF (NYSEARCA:PGX)’s share price reached a new 52-week low on Thursday . The stock traded as low as $10.68 and last traded at $10.68, with a volume of 2162785 shares changing hands. The stock had previously closed at $10.74.

Invesco Preferred ETF Stock Performance

The business has a 50 day moving average of $10.85 and a 200-day moving average of $11.08.

Hedge Funds Weigh In On Invesco Preferred ETF

A number of institutional investors have recently modified their holdings of PGX. Triumph Capital Management acquired a new position in Invesco Preferred ETF in the third quarter valued at $29,000. First United Bank & Trust increased its position 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 valued at $47,000 after acquiring an additional 1,055 shares during the period. Bayban purchased a new stake in Invesco Preferred ETF during the 4th quarter valued at approximately $52,000. Global Assets Advisory LLC purchased a new position in shares of Invesco Preferred ETF in the 1st quarter valued at approximately $52,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $55,000. 8.60% of the stock is owned by institutional investors and hedge funds.

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.