Ramiah Investment Group Invests $491,000 in Invesco Preferred ETF (NYSEARCA:PGX)

Ramiah Investment Group bought a new stake in Invesco Preferred ETF (NYSEARCA:PGX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,805 shares of the company’s stock, valued at approximately $491,000. Invesco Preferred ETF makes up approximately 0.5% of Ramiah Investment Group’s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds also recently made changes to their positions in PGX. Bernard Wealth Management Corp. acquired a new position in Invesco Preferred ETF in the fourth quarter worth $26,000. Tower Research Capital LLC TRC lifted its position in Invesco Preferred ETF by 52.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,940 shares of the company’s stock worth $45,000 after buying an additional 1,360 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Invesco Preferred ETF by 42.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 4,027 shares of the company’s stock worth $46,000 after buying an additional 1,191 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Invesco Preferred ETF during the 4th quarter worth about $50,000. Finally, Ameriflex Group Inc. acquired a new stake in Invesco Preferred ETF in the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

PGX stock opened at $11.32 on Wednesday. The company has a 50 day moving average price of $11.05 and a 200 day moving average price of $11.30. Invesco Preferred ETF has a fifty-two week low of $10.70 and a fifty-two week high of $12.54.

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.