Independence Bank of Kentucky Trims Position in Invesco Preferred ETF $PGX

Independence Bank of Kentucky lessened its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 11.5% during the 2nd quarter, Holdings Channel reports. The fund owned 34,710 shares of the company’s stock after selling 4,525 shares during the quarter. Independence Bank of Kentucky’s holdings in Invesco Preferred ETF were worth $386,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Invesco Preferred ETF during the 1st quarter worth about $9,537,000. Goldman Sachs Group Inc. increased its position in shares of Invesco Preferred ETF by 57.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after purchasing an additional 683,754 shares during the last quarter. LPL Financial LLC increased its position in shares of Invesco Preferred ETF by 3.3% during the 1st quarter. LPL Financial LLC now owns 15,193,057 shares of the company’s stock worth $170,466,000 after purchasing an additional 486,697 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Invesco Preferred ETF during the 2nd quarter worth about $4,964,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Invesco Preferred ETF by 257.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 524,158 shares of the company’s stock worth $6,044,000 after purchasing an additional 377,325 shares during the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

NYSEARCA PGX opened at $11.66 on Tuesday. The stock has a 50-day moving average of $11.51 and a two-hundred day moving average of $11.25. Invesco Preferred ETF has a 1-year low of $10.70 and a 1-year high of $12.52.

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.