Invesco Preferred ETF (NYSEARCA:PGX) Stock Crosses Above 50 Day Moving Average – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.35 and traded as high as $11.50. Invesco Preferred ETF shares last traded at $11.49, with a volume of 1,381,016 shares changing hands.

Invesco Preferred ETF Price Performance

The business has a 50-day simple moving average of $11.35 and a two-hundred day simple moving average of $11.45.

Invesco Preferred ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were issued a dividend of $0.0638 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a c) annualized dividend and a dividend yield of 6.7%. This is an increase from Invesco Preferred ETF’s previous monthly dividend of $0.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Triumph Capital Management acquired a new position in shares of Invesco Preferred ETF during the third quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in Invesco Preferred ETF during the 4th quarter valued at $31,000. Clearstead Trust LLC bought a new stake in Invesco Preferred ETF in the 2nd quarter valued at $32,000. Motco acquired a new stake in Invesco Preferred ETF in the 2nd quarter worth $39,000. Finally, WealthShield Partners LLC raised its position in shares of Invesco Preferred ETF by 753.8% during the third quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after buying an additional 3,430 shares during the last quarter. Institutional investors and hedge funds own 8.60% of the company’s stock.

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.