Invesco Preferred ETF (NYSEARCA:PGX) Hits New 1-Year Low – Time to Sell?

Invesco Preferred ETF (NYSEARCA:PGX) shares reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $10.14 and last traded at $10.17, with a volume of 4519979 shares. The stock had previously closed at $10.23.

Invesco Preferred ETF Price Performance

The company’s fifty day moving average is $10.54 and its 200 day moving average is $10.84.

Institutional Investors Weigh In On Invesco Preferred ETF

Several large investors have recently made changes to their positions in the business. Transatlantique Private Wealth LLC lifted its holdings in shares of Invesco Preferred ETF by 23.5% during the 4th quarter. Transatlantique Private Wealth LLC now owns 270,002 shares of the company’s stock valued at $3,035,000 after acquiring an additional 51,310 shares in the last quarter. Allworth Financial LP increased its holdings in Invesco Preferred ETF by 2.1% in the 2nd quarter. Allworth Financial LP now owns 3,438,874 shares of the company’s stock valued at $37,277,000 after purchasing an additional 71,096 shares in the last quarter. Stonebridge Advisors LLC increased its holdings in Invesco Preferred ETF by 54.4% in the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock valued at $13,315,000 after purchasing an additional 431,371 shares in the last quarter. Hyposwiss Advisors SA purchased a new position in Invesco Preferred ETF in the fourth quarter valued at about $529,000. Finally, Compass Financial Group Inc. Ohio purchased a new position in Invesco Preferred ETF in the fourth quarter valued at about $3,766,000. 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.