Invesco Financial Preferred ETF (NYSEARCA:PGF) Reaches New 52-Week Low – What’s Next?

Shares of Invesco Financial Preferred ETF (NYSEARCA:PGF) hit a new 52-week low during trading on Tuesday. The company traded as low as $12.57 and last traded at $12.57, with a volume of 106,457 shares trading hands. The stock had previously closed at $12.65.

Invesco Financial Preferred ETF Stock Performance

The company has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $13.59.

Institutional Investors Weigh In On Invesco Financial Preferred ETF

Hedge funds have recently added to or reduced their stakes in the business. North Star Investment Management Corp. raised its stake in shares of Invesco Financial Preferred ETF by 19.0% during the first quarter. North Star Investment Management Corp. now owns 318,191 shares of the exchange traded fund’s stock valued at $4,378,000 after acquiring an additional 50,749 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Invesco Financial Preferred ETF during the second quarter worth $844,000. Fifth Third Bancorp acquired a new position in shares of Invesco Financial Preferred ETF during the first quarter worth $1,021,000. Kestra Advisory Services LLC lifted its holdings in shares of Invesco Financial Preferred ETF by 18.7% during the first quarter. Kestra Advisory Services LLC now owns 23,430 shares of the exchange traded fund’s stock worth $322,000 after purchasing an additional 3,698 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Invesco Financial Preferred ETF by 18.6% in the first quarter. International Assets Investment Management LLC now owns 65,378 shares of the exchange traded fund’s stock worth $905,000 after purchasing an additional 10,237 shares during the last quarter.

About Invesco Financial Preferred ETF

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.