Invesco Preferred ETF (NYSEARCA:PGX) Sets New 12-Month Low – Time to Sell?

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $10.62 and last traded at $10.63, with a volume of 2633751 shares trading hands. The stock had previously closed at $10.68.

Invesco Preferred ETF Stock Performance

The stock’s 50-day moving average is $10.80 and its 200-day moving average is $11.04.

Hedge Funds Weigh In On Invesco Preferred ETF

Institutional investors have recently made changes to their positions in the stock. Triumph Capital Management bought a new stake in Invesco Preferred ETF in the 3rd quarter valued at about $29,000. First United Bank & Trust boosted its holdings in Invesco Preferred ETF by 32.1% in the first quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after acquiring an additional 1,055 shares in the last quarter. Bayban acquired a new stake in Invesco Preferred ETF in the fourth quarter valued at approximately $52,000. Global Assets Advisory LLC acquired a new stake in Invesco Preferred ETF in the first quarter valued at approximately $52,000. Finally, International Assets Investment Management LLC acquired a new stake in Invesco Preferred ETF in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds 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.