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

Invesco Preferred ETF (NYSEARCA:PGX)’s share price hit 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. The stock had previously closed at $10.79.

Invesco Preferred ETF Stock Down 0.1%

The firm has a fifty day moving average price of $10.92 and a 200 day moving average price of $11.14.

Institutional Trading of Invesco Preferred ETF

Large investors have recently added to or reduced their stakes in the company. Ibex Wealth Advisors boosted its position in Invesco Preferred ETF by 0.8% in the first quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock valued at $1,318,000 after buying an additional 909 shares in the last quarter. New England Private Wealth Advisors LLC increased its holdings in shares of Invesco Preferred ETF by 1.6% during the fourth quarter. New England Private Wealth Advisors LLC now owns 58,682 shares of the company’s stock worth $660,000 after buying an additional 916 shares in the last quarter. Apella Capital LLC lifted its stake in shares of Invesco Preferred ETF by 5.0% in the 1st quarter. Apella Capital LLC now owns 19,507 shares of the company’s stock valued at $220,000 after acquiring an additional 929 shares during the last quarter. Balanced Wealth Group LLC lifted its stake in shares of Invesco Preferred ETF by 2.4% in the 1st quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock valued at $449,000 after acquiring an additional 965 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Invesco Preferred ETF by 6.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,192 shares of the company’s stock valued at $182,000 after acquiring an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 8.60% of the company’s stock.

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.