Royal Bank of Canada Has $32.16 Million Holdings in Invesco Preferred ETF $PGX

Royal Bank of Canada decreased its position in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 20.6% in the 1st quarter, HoldingsChannel reports. The fund owned 2,956,073 shares of the company’s stock after selling 766,143 shares during the period. Royal Bank of Canada’s holdings in Invesco Preferred ETF were worth $32,162,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PGX. Cohen & Steers Inc. lifted its holdings in shares of Invesco Preferred ETF by 1,881.8% in the 4th quarter. Cohen & Steers Inc. now owns 2,157,935 shares of the company’s stock worth $24,255,000 after purchasing an additional 2,049,049 shares in the last quarter. First Trust Advisors LP bought a new stake in Invesco Preferred ETF during the 4th quarter valued at $22,103,000. Spectrum Asset Management Inc. increased its stake in Invesco Preferred ETF by 47.9% during the 4th quarter. Spectrum Asset Management Inc. now owns 5,372,426 shares of the company’s stock valued at $60,386,000 after purchasing 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 buying an additional 1,300,981 shares during the last quarter. Finally, New England Private Wealth Advisors LLC raised its holdings in Invesco Preferred ETF by 2,024.5% during the fourth quarter. New England Private Wealth Advisors LLC now owns 1,227,261 shares of the company’s stock worth $13,817,000 after buying an additional 1,169,495 shares during the last quarter. 8.60% of the stock is owned by institutional investors and hedge funds.

Invesco Preferred ETF Stock Up 0.2%

Invesco Preferred ETF stock opened at $10.75 on Tuesday. Invesco Preferred ETF has a 1-year low of $10.68 and a 1-year high of $11.92. The firm’s fifty day moving average price is $10.87 and its two-hundred day moving average price is $11.10.

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.