Invesco Preferred ETF (NYSEARCA:PGX) Sees Strong Trading Volume – Time to Buy?

Invesco Preferred ETF (NYSEARCA:PGX) shares saw strong trading volume on Thursday . 6,873,893 shares traded 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 Trading Down 0.2%

The stock has a fifty day moving average price of $11.10 and a two-hundred day moving average price of $11.26.

Institutional Trading of Invesco Preferred ETF

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in Invesco Preferred ETF by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 126,695 shares of the company’s stock worth $1,378,000 after acquiring an additional 5,127 shares during the period. Bank of America Corp DE raised its stake in shares of Invesco Preferred ETF by 3.4% during the first quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock valued at $882,733,000 after purchasing an additional 2,684,132 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Invesco Preferred ETF during the first quarter valued at about $844,000. Adalta Capital Management LLC lifted its holdings in Invesco Preferred ETF by 25.9% in the first quarter. Adalta Capital Management LLC now owns 14,596 shares of the company’s stock worth $159,000 after purchasing an additional 3,000 shares during the period. Finally, Gateway Wealth Partners LLC lifted its holdings in Invesco Preferred ETF by 84.4% in the first quarter. Gateway Wealth Partners LLC now owns 26,316 shares of the company’s stock worth $286,000 after purchasing an additional 12,045 shares during the period. 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.