Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 1-Year Low – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $10.65 and last traded at $10.67, with a volume of 2821266 shares changing hands. The stock had previously closed at $10.65.

Invesco Preferred ETF Stock Performance

The firm’s 50 day moving average is $10.83 and its two-hundred day moving average is $11.07.

Hedge Funds Weigh In On Invesco Preferred ETF

Several institutional investors have recently made changes to their positions in the stock. Triumph Capital Management bought a new stake in shares of Invesco Preferred ETF in the 3rd quarter worth approximately $29,000. First United Bank & Trust grew its stake in Invesco Preferred ETF by 32.1% during the 1st quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares during the last quarter. Bayban bought a new position in Invesco Preferred ETF during the 4th quarter worth $52,000. Global Assets Advisory LLC acquired a new stake in Invesco Preferred ETF in the first quarter worth $52,000. Finally, International Assets Investment Management LLC acquired a new stake in Invesco Preferred ETF in the fourth quarter worth $55,000. 8.60% of the stock is owned by institutional investors.

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.