Invesco Preferred ETF (NYSEARCA:PGX) Short Interest Down 18.4% in April

Invesco Preferred ETF (NYSEARCA:PGX) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 3,312,389 shares, a decrease of 18.4% from the March 31st total of 4,057,876 shares. Based on an average daily volume of 3,201,024 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.9% of the company’s stock are short sold.

Institutional Trading of Invesco Preferred ETF

Several institutional investors and hedge funds have recently bought and sold shares of PGX. Global Assets Advisory LLC acquired a new position in Invesco Preferred ETF during the first quarter valued at approximately $52,000. Fifth Third Bancorp increased its position in shares of Invesco Preferred ETF by 25,538.8% during the 1st quarter. Fifth Third Bancorp now owns 146,141 shares of the company’s stock worth $1,590,000 after purchasing an additional 145,571 shares during the last quarter. Stonebridge Advisors LLC raised its stake in shares of Invesco Preferred ETF by 54.4% during the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock worth $13,315,000 after purchasing an additional 431,371 shares in the last quarter. Ibex Wealth Advisors raised its stake in shares of Invesco Preferred ETF by 0.8% during the 1st quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock worth $1,318,000 after purchasing an additional 909 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Invesco Preferred ETF by 71.7% in the 1st quarter. Kestra Advisory Services LLC now owns 304,303 shares of the company’s stock valued at $3,311,000 after buying an additional 127,044 shares during the last quarter. Institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Down 0.1%

PGX stock traded down $0.01 during midday trading on Friday, hitting $11.14. The company’s stock had a trading volume of 1,454,249 shares, compared to its average volume of 3,566,587. The company’s fifty day moving average price is $11.17 and its 200 day moving average price is $11.30. Invesco Preferred ETF has a twelve month low of $10.82 and a twelve month high of $11.92.

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.