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

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $9.98 and last traded at $10.0050, with a volume of 455545 shares trading hands. The stock had previously closed at $10.06.

Invesco Preferred ETF Price Performance

The stock’s 50 day moving average price is $10.47 and its two-hundred day moving average price is $10.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tompkins Financial Corp bought a new stake in shares of Invesco Preferred ETF in the third quarter valued at approximately $25,000. Bangor Savings Bank acquired a new position in Invesco Preferred ETF in the third quarter worth about $30,000. First United Bank & Trust boosted its stake in Invesco Preferred ETF by 32.1% in the 1st 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 in the last quarter. Bayban bought a new stake in shares of Invesco Preferred ETF in the 4th quarter worth about $52,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Invesco Preferred ETF during the first quarter worth approximately $52,000. 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.