Invesco Preferred ETF (NYSEARCA:PGX) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Invesco Preferred ETF (NYSEARCA:PGX) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.45 and traded as low as $11.34. Invesco Preferred ETF shares last traded at $11.34, with a volume of 2,603,326 shares.

Invesco Preferred ETF Stock Down 0.4%

The stock has a fifty day simple moving average of $11.38 and a two-hundred day simple moving average of $11.45.

Invesco Preferred ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were given a dividend of $0.0543 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, February 23rd.

Institutional Investors Weigh In On Invesco Preferred ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management acquired a new stake in shares of Invesco Preferred ETF in the 3rd quarter valued at about $29,000. Ransom Advisory Ltd acquired a new position in Invesco Preferred ETF during the 4th quarter worth approximately $31,000. Clearstead Trust LLC bought a new position in Invesco Preferred ETF in the second quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Invesco Preferred ETF in the second quarter valued at approximately $44,000. Finally, WealthShield Partners LLC grew its stake in Invesco Preferred ETF by 753.8% in the third quarter. WealthShield Partners LLC now owns 3,885 shares of the company’s stock valued at $45,000 after acquiring an additional 3,430 shares during the period. 8.60% of the stock is 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.