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

Shares of Invesco Preferred ETF (NYSEARCA:PGX) hit a new 52-week low during trading on Tuesday . The company traded as low as $10.85 and last traded at $10.86, with a volume of 679191 shares traded. The stock had previously closed at $10.87.

Invesco Preferred ETF Stock Performance

The company has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $11.22.

Institutional Investors Weigh In On Invesco Preferred ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Invesco Preferred ETF by 3.4% in 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 buying an additional 2,684,132 shares during the period. Cohen & Steers Inc. grew its holdings in Invesco Preferred ETF by 1,881.8% during the 4th quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock worth $24,255,000 after acquiring an additional 2,049,049 shares during the period. First Trust Advisors LP bought a new stake in shares of Invesco Preferred ETF during the 4th quarter valued at $22,103,000. Spectrum Asset Management Inc. increased its holdings in 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 purchasing an additional 1,739,156 shares during the last quarter. Finally, UBS Group AG increased its holdings in Invesco Preferred ETF by 32.2% in the fourth quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock valued at $60,084,000 after purchasing an additional 1,300,981 shares during the last quarter. 8.60% of the stock is owned by institutional investors.

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.