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

Invesco Preferred ETF (NYSEARCA:PGX) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 8,824,896 shares, an increase of 38.1% from the December 15th total of 6,391,183 shares. Based on an average trading volume of 3,862,587 shares, the short-interest ratio is presently 2.3 days. Currently, 2.5% of the company’s shares are short sold. Currently, 2.5% of the company’s shares are short sold. Based on an average trading volume of 3,862,587 shares, the short-interest ratio is presently 2.3 days.

Institutional Trading of Invesco Preferred ETF

Hedge funds have recently made changes to their positions in the company. Shepherd Kaplan Krochuk LLC lifted its holdings in Invesco Preferred ETF by 0.6% in the third quarter. Shepherd Kaplan Krochuk LLC now owns 153,126 shares of the company’s stock valued at $1,776,000 after acquiring an additional 962 shares during the last quarter. Crews Bank & Trust raised its position in Invesco Preferred ETF by 2.5% in the second quarter. Crews Bank & Trust now owns 40,780 shares of the company’s stock valued at $454,000 after purchasing an additional 1,000 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Invesco Preferred ETF by 4.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 27,473 shares of the company’s stock valued at $319,000 after purchasing an additional 1,089 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Invesco Preferred ETF by 0.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 167,868 shares of the company’s stock valued at $1,957,000 after buying an additional 1,183 shares during the period. Finally, Modern Wealth Management LLC lifted its position in Invesco Preferred ETF by 5.5% in the second quarter. Modern Wealth Management LLC now owns 25,839 shares of the company’s stock valued at $288,000 after buying an additional 1,349 shares during the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

Shares of PGX stock remained flat at $11.43 on Friday. 5,667,172 shares of the stock traded hands, compared to its average volume of 6,423,733. Invesco Preferred ETF has a 1 year low of $10.70 and a 1 year high of $11.92. The company’s fifty day moving average price is $11.30 and its 200-day moving average price is $11.42.

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.