Invesco Preferred ETF (NYSEARCA:PGX) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Preferred ETF (NYSEARCA:PGX) shares saw unusually-strong trading volume on Thursday . Approximately 6,873,893 shares changed hands during mid-day trading, an increase of 108% from the previous session’s volume of 3,311,453 shares.The stock last traded at $10.93 and had previously closed at $10.97.

Invesco Preferred ETF Price Performance

The business has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $11.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new position in Invesco Preferred ETF in the 3rd quarter valued at $29,000. Ransom Advisory Ltd acquired a new position in Invesco Preferred ETF in the 4th quarter valued at $31,000. WealthShield Partners LLC grew its holdings in Invesco Preferred ETF by 753.8% in the 3rd quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after buying an additional 3,430 shares in the last quarter. First United Bank & Trust grew its holdings 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 buying an additional 1,055 shares in the last quarter. Finally, Bayban acquired a new position in Invesco Preferred ETF in the 4th quarter valued at $52,000. 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.