Invesco Preferred ETF (NYSEARCA:PGX) Sees Significant Increase in Short Interest

Invesco Preferred ETF (NYSEARCA:PGX) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 8,302,963 shares, a growth of 84.3% from the July 30th total of 4,506,048 shares. Based on an average daily trading volume, of 2,917,008 shares, the short-interest ratio is currently 2.8 days. Currently, 2.3% of the company’s shares are sold short.

Invesco Preferred ETF Stock Performance

PGX opened at $10.57 on Tuesday. Invesco Preferred ETF has a 12 month low of $10.53 and a 12 month high of $11.92. The company has a fifty day simple moving average of $10.75 and a 200 day simple moving average of $11.00.

Institutional Investors Weigh In On Invesco Preferred ETF

A number of institutional investors and hedge funds have recently modified their holdings of PGX. Triumph Capital Management bought a new position in Invesco Preferred ETF during the third quarter worth about $29,000. First United Bank & Trust raised its stake in Invesco Preferred ETF by 32.1% in the first quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock valued at $47,000 after buying an additional 1,055 shares during the period. Bayban acquired a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $52,000. Global Assets Advisory LLC acquired a new stake in shares of Invesco Preferred ETF in the first quarter valued at approximately $52,000. Finally, International Assets Investment Management LLC bought a new position in shares of Invesco Preferred ETF during the 4th quarter worth approximately $55,000. 8.60% of the stock is owned by institutional investors.

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. 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.