Invesco Preferred ETF (NYSEARCA:PGX) Sets New 12-Month Low – Should You Sell?

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.76 and last traded at $10.77, with a volume of 537939 shares traded. The stock had previously closed at $10.79.

Invesco Preferred ETF Price Performance

The stock has a 50-day moving average of $10.92 and a 200-day moving average of $11.14.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Invesco Preferred ETF by 3.4% during the 1st quarter. Bank of America Corp DE now owns 81,133,531 shares of the company’s stock worth $882,733,000 after buying an additional 2,684,132 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Invesco Preferred ETF by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 15,374,528 shares of the company’s stock valued at $172,810,000 after acquiring an additional 625,748 shares during the last quarter. Spectrum Asset Management Inc. raised its holdings in Invesco Preferred ETF by 47.9% during the fourth quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock worth $60,386,000 after acquiring an additional 1,739,156 shares in the last quarter. UBS Group AG raised its holdings in Invesco Preferred ETF by 32.2% during the fourth quarter. UBS Group AG now owns 5,345,570 shares of the company’s stock worth $60,084,000 after acquiring an additional 1,300,981 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Invesco Preferred ETF by 19.6% during the fourth quarter. JPMorgan Chase & Co. now owns 5,308,493 shares of the company’s stock valued at $59,667,000 after purchasing an additional 871,430 shares during the last quarter. Institutional investors 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.