Invesco Preferred ETF (NYSEARCA:PGX) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Invesco Preferred ETF (NYSEARCA:PGX)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.32 and traded as high as $11.40. Invesco Preferred ETF shares last traded at $11.39, with a volume of 1,894,323 shares.

Invesco Preferred ETF Stock Up 0.1%

The stock’s fifty day moving average price is $11.32 and its 200-day moving average price is $11.44.

Invesco Preferred ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 23rd. Shareholders of record on Tuesday, January 20th were paid a $0.0638 dividend. This is a positive change from Invesco Preferred ETF’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date was Tuesday, January 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Invesco Preferred ETF by 110.0% in the third quarter. SG Americas Securities LLC now owns 382,831 shares of the company’s stock valued at $4,441,000 after acquiring an additional 200,531 shares during the period. MainStreet Investment Advisors LLC acquired a new stake in Invesco Preferred ETF in the 2nd quarter worth about $228,000. Allworth Financial LP boosted its holdings in Invesco Preferred ETF by 8.4% in the 2nd quarter. Allworth Financial LP now owns 2,848,588 shares of the company’s stock valued at $31,705,000 after purchasing an additional 221,139 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Invesco Preferred ETF by 6.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 1,550,907 shares of the company’s stock valued at $17,991,000 after purchasing an additional 93,853 shares during the period. Finally, Balanced Wealth Group LLC grew its position in shares of Invesco Preferred ETF by 141.1% during the 2nd quarter. Balanced Wealth Group LLC now owns 31,961 shares of the company’s stock worth $362,000 after purchasing an additional 18,704 shares in the last quarter. 8.60% of the stock is currently owned by institutional investors.

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.