Cherry Tree Wealth Management LLC Lowers Stake in Invesco Preferred ETF (NYSEARCA:PGX)

Cherry Tree Wealth Management LLC lessened its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 73.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 131,120 shares of the company’s stock after selling 364,752 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Invesco Preferred ETF were worth $1,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Invesco Preferred ETF during the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC lifted its position in shares of Invesco Preferred ETF by 52.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,940 shares of the company’s stock worth $45,000 after purchasing an additional 1,360 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of Invesco Preferred ETF by 42.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 4,027 shares of the company’s stock valued at $46,000 after purchasing an additional 1,191 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $50,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $91,000.

Invesco Preferred ETF Trading Up 0.3%

Invesco Preferred ETF stock opened at $11.05 on Friday. Invesco Preferred ETF has a 52-week low of $10.70 and a 52-week high of $12.54. The company’s 50 day moving average is $10.99 and its two-hundred day moving average is $11.36.

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.