Invesco Preferred ETF (NYSEARCA:PGX) Sees Significant Drop in Short Interest

Invesco Preferred ETF (NYSEARCA:PGX) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 3,312,389 shares, a drop of 18.4% from the March 31st total of 4,057,876 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 3,201,024 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of Invesco Preferred ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new stake in shares of Invesco Preferred ETF during the fourth quarter worth $626,000. Goldman Sachs Group Inc. grew its position in shares of Invesco Preferred ETF by 57.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock valued at $21,031,000 after purchasing an additional 683,754 shares during the last quarter. Jane Street Group LLC grew its position in shares of Invesco Preferred ETF by 181.6% in the first quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock valued at $4,714,000 after purchasing an additional 270,939 shares during the last quarter. Invesco Ltd. grew its position in shares of Invesco Preferred ETF by 1.5% in the second quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock valued at $1,253,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Invesco Preferred ETF in the second quarter valued at about $679,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

Shares of Invesco Preferred ETF stock traded up $0.08 during midday trading on Thursday, hitting $11.15. The company’s stock had a trading volume of 1,520,755 shares, compared to its average volume of 3,592,348. The stock has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $11.30. Invesco Preferred ETF has a 1-year low of $10.82 and a 1-year high of $11.92.

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.