Invesco Financial Preferred ETF (NYSEARCA:PGF) Sets New 52-Week Low – Should You Sell?

Invesco Financial Preferred ETF (NYSEARCA:PGF) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.09 and last traded at $13.11, with a volume of 7797 shares changing hands. The stock had previously closed at $13.12.

Invesco Financial Preferred ETF Trading Up 0.7%

The firm’s 50-day moving average is $13.48 and its 200 day moving average is $13.77.

Hedge Funds Weigh In On Invesco Financial Preferred ETF

Hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in Invesco Financial Preferred ETF during the 2nd quarter worth $89,000. Citadel Advisors LLC acquired a new position in Invesco Financial Preferred ETF during the 2nd quarter worth about $844,000. Ameritas Advisory Services LLC bought a new stake in shares of Invesco Financial Preferred ETF in the 2nd quarter valued at about $261,000. Compass Financial Management LLC bought a new stake in shares of Invesco Financial Preferred ETF in the 2nd quarter valued at about $27,000. Finally, Lord & Richards Wealth Management LLC increased its stake in shares of Invesco Financial Preferred ETF by 7.1% in the second quarter. Lord & Richards Wealth Management LLC now owns 90,368 shares of the exchange traded fund’s stock valued at $1,239,000 after buying an additional 5,995 shares during the period.

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.