Pinnacle Wealth Management Advisory Group LLC Makes New Investment in Invesco Preferred ETF (NYSEARCA:PGX)

Pinnacle Wealth Management Advisory Group LLC bought a new stake in Invesco Preferred ETF (NYSEARCA:PGX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,528 shares of the company’s stock, valued at approximately $178,000.

Several other hedge funds have also modified their holdings of PGX. LPL Financial LLC lifted its stake in shares of Invesco Preferred ETF by 12.2% in the third quarter. LPL Financial LLC now owns 14,641,628 shares of the company’s stock worth $160,326,000 after acquiring an additional 1,587,869 shares in the last quarter. Community Financial Services Group LLC acquired a new position in shares of Invesco Preferred ETF in the 3rd quarter valued at approximately $9,441,000. Spectrum Asset Management Inc. boosted its stake in shares of Invesco Preferred ETF by 30.2% during the 4th quarter. Spectrum Asset Management Inc. now owns 3,694,150 shares of the company’s stock valued at $42,376,000 after buying an additional 857,423 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Invesco Preferred ETF during the fourth quarter worth approximately $5,110,000. Finally, Noesis Capital Mangement Corp increased its stake in shares of Invesco Preferred ETF by 519.3% in the fourth quarter. Noesis Capital Mangement Corp now owns 433,070 shares of the company’s stock worth $4,967,000 after buying an additional 363,141 shares during the last quarter.

Invesco Preferred ETF Trading Up 0.2 %

NYSEARCA PGX opened at $11.51 on Friday. Invesco Preferred ETF has a 12 month low of $10.14 and a 12 month high of $12.06. The company’s fifty day moving average price is $11.71 and its two-hundred day moving average price is $11.48.

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.