Invesco Preferred ETF $PGX Shares Acquired by Spectrum Asset Management Inc.

Spectrum Asset Management Inc. grew its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,372,426 shares of the company’s stock after purchasing an additional 1,739,156 shares during the period. Invesco Preferred ETF comprises about 76.0% of Spectrum Asset Management Inc.’s holdings, making the stock its biggest holding. Spectrum Asset Management Inc. owned 1.52% of Invesco Preferred ETF worth $60,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Invesco Preferred ETF by 2.1% during the third quarter. Bank of America Corp DE now owns 65,973,646 shares of the company’s stock valued at $765,294,000 after purchasing an additional 1,333,558 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Invesco Preferred ETF by 110.0% during the third quarter. SG Americas Securities LLC now owns 382,831 shares of the company’s stock valued at $4,441,000 after purchasing an additional 200,531 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Invesco Preferred ETF by 5.6% during the third quarter. Cary Street Partners Financial LLC now owns 1,092,414 shares of the company’s stock valued at $12,672,000 after purchasing an additional 58,203 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Invesco Preferred ETF by 6.4% during the third quarter. Checchi Capital Advisers LLC now owns 1,550,907 shares of the company’s stock valued at $17,991,000 after purchasing an additional 93,853 shares during the last quarter. Finally, Cane Capital Partners LLC purchased a new stake in shares of Invesco Preferred ETF during the fourth quarter valued at $963,000. 8.60% of the stock is owned by hedge funds and other institutional investors.

Invesco Preferred ETF Price Performance

Shares of NYSEARCA PGX opened at $11.14 on Monday. Invesco Preferred ETF has a 12 month low of $10.82 and a 12 month high of $11.92. The business has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $11.30.

Invesco Preferred ETF 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.