Invesco Preferred ETF (NYSEARCA:PGX) Sets New 1-Year Low – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX) hit a new 52-week low on Monday . The company traded as low as $10.54 and last traded at $10.55, with a volume of 97946 shares changing hands. The stock had previously closed at $10.60.

Invesco Preferred ETF Price Performance

The stock has a 50-day moving average of $10.79 and a two-hundred day moving average of $11.03.

Institutional Investors Weigh In On Invesco Preferred ETF

Hedge funds have recently made changes to their positions in the business. New England Private Wealth Advisors LLC raised its holdings in Invesco Preferred ETF by 2,024.5% during the 4th quarter. New England Private Wealth Advisors LLC now owns 1,227,261 shares of the company’s stock valued at $13,817,000 after buying an additional 1,169,495 shares during the last quarter. Transatlantique Private Wealth LLC grew its holdings in Invesco Preferred ETF by 23.5% in the 4th quarter. Transatlantique Private Wealth LLC now owns 270,002 shares of the company’s stock worth $3,035,000 after acquiring an additional 51,310 shares during the last quarter. Compass Financial Group Inc. Ohio purchased a new position in shares of Invesco Preferred ETF in the fourth quarter valued at about $3,766,000. Spectrum Asset Management Inc. increased its position in shares of Invesco Preferred ETF by 47.9% in the fourth quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock valued at $60,386,000 after acquiring an additional 1,739,156 shares during the period. Finally, Cohen & Steers Inc. raised its stake in shares of Invesco Preferred ETF by 1,881.8% during the fourth quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock valued at $24,255,000 after acquiring an additional 2,049,049 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors.

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.