Invesco Preferred ETF (NYSEARCA:PGX) Sees Strong Trading Volume – Here’s Why

Shares of Invesco Preferred ETF (NYSEARCA:PGX) saw strong trading volume on Wednesday. 6,435,441 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 4,112,501 shares. The stock last traded at $9.8450 and had previously closed at $9.91.

Invesco Preferred ETF Stock Up 0.2%

The stock has a fifty day moving average price of $10.25 and a two-hundred day moving average price of $10.86.

Hedge Funds Weigh In On Invesco Preferred ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tompkins Financial Corp bought a new stake in shares of Invesco Preferred ETF during the third quarter valued at about $25,000. Bangor Savings Bank purchased a new position in Invesco Preferred ETF during the third quarter worth about $30,000. SRH Advisors LLC bought a new position in Invesco Preferred ETF in the 3rd quarter worth about $35,000. Peoples Financial Services CORP. purchased a new position in shares of Invesco Preferred ETF during the third quarter worth about $40,000. Finally, Community Financial Services Group LLC bought a new position in shares of Invesco Preferred ETF in the third quarter worth approximately $42,000. Institutional investors own 8.60% of the company’s stock.

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.