Invesco Preferred ETF (NYSEARCA:PGX) Sets New 52-Week Low – What’s Next?

Invesco Preferred ETF (NYSEARCA:PGX) shares reached a new 52-week low on Monday . The stock traded as low as $10.54 and last traded at $10.55, with a volume of 97946 shares. The stock had previously closed at $10.60.

Invesco Preferred ETF Stock Performance

The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $11.02.

Institutional Trading of Invesco Preferred ETF

Large investors have recently bought and sold shares of the business. Ibex Wealth Advisors increased its position in shares of Invesco Preferred ETF by 0.8% in the first quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock valued at $1,318,000 after acquiring an additional 909 shares during the period. New England Private Wealth Advisors LLC boosted its holdings in shares of Invesco Preferred ETF by 1.6% during the fourth quarter. New England Private Wealth Advisors LLC now owns 58,682 shares of the company’s stock worth $660,000 after purchasing an additional 916 shares during the period. Apella Capital LLC boosted its holdings in shares of Invesco Preferred ETF by 5.0% during the first quarter. Apella Capital LLC now owns 19,507 shares of the company’s stock worth $220,000 after purchasing an additional 929 shares during the period. Balanced Wealth Group LLC grew its stake in shares of Invesco Preferred ETF by 2.4% in the first quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock worth $449,000 after purchasing an additional 965 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Invesco Preferred ETF by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,192 shares of the company’s stock worth $182,000 after purchasing an additional 1,046 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors and hedge funds.

About Invesco Preferred ETF

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.