Invesco Preferred ETF (NYSEARCA:PGX) Sets New 1-Year Low – What’s Next?

Shares of Invesco Preferred ETF (NYSEARCA:PGX) reached a new 52-week low on Monday . The company traded as low as $10.70 and last traded at $10.88, with a volume of 10430088 shares changing hands. The stock had previously closed at $10.85.

Invesco Preferred ETF Trading Down 0.1 %

The company has a 50-day moving average of $11.41 and a 200-day moving average of $11.73.

Hedge Funds Weigh In On Invesco Preferred ETF

Several institutional investors have recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new stake in Invesco Preferred ETF in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco Preferred ETF during the 3rd quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Invesco Preferred ETF by 299.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,793 shares of the company’s stock worth $32,000 after purchasing an additional 2,093 shares during the period. Kentucky Trust Co purchased a new position in Invesco Preferred ETF in the fourth quarter valued at approximately $36,000. Finally, Roxbury Financial LLC purchased a new position in Invesco Preferred ETF in the fourth quarter valued at approximately $42,000.

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.