Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 52-Week Low – Here’s Why

Shares of Invesco Preferred ETF (NYSEARCA:PGX) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $9.94 and last traded at $9.95, with a volume of 6,509,824 shares. The stock had previously closed at $10.01.

Invesco Preferred ETF Stock Down 0.6%

The business has a fifty day moving average price of $10.41 and a 200-day moving average price of $10.77.

Institutional Trading of Invesco Preferred ETF

Hedge funds have recently bought and sold shares of the company. Tompkins Financial Corp bought a new position in shares of Invesco Preferred ETF during the 3rd quarter valued at $25,000. Bangor Savings Bank purchased a new position in Invesco Preferred ETF in the 3rd quarter worth $30,000. First United Bank & Trust raised 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 worth $47,000 after purchasing an additional 1,055 shares during the period. Bayban bought a new stake in Invesco Preferred ETF in the fourth quarter worth $52,000. Finally, Global Assets Advisory LLC bought a new stake in Invesco Preferred ETF in the first quarter worth $52,000. Institutional investors own 8.60% of the company’s stock.

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.