MeadowBrook Investment Advisors LLC Sells 2,430 Shares of Invesco Preferred ETF $PGX

MeadowBrook Investment Advisors LLC cut its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,862 shares of the company’s stock after selling 2,430 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Invesco Preferred ETF were worth $444,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Invesco Preferred ETF during the first quarter worth about $9,537,000. Goldman Sachs Group Inc. lifted its position in Invesco Preferred ETF by 57.4% during the first 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 period. LPL Financial LLC lifted its position in Invesco Preferred ETF by 3.3% during the first 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 period. Exchange Traded Concepts LLC bought a new stake in Invesco Preferred ETF during the second quarter worth about $4,964,000. Finally, Jane Street Group LLC lifted its position in Invesco Preferred ETF by 181.6% during the first quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock worth $4,714,000 after purchasing an additional 270,939 shares during the period. Institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Down 0.3%

PGX opened at $11.56 on Thursday. Invesco Preferred ETF has a twelve month low of $10.70 and a twelve month high of $12.32. The company has a 50-day simple moving average of $11.63 and a 200 day simple moving average of $11.30.

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.