Invesco Financial Preferred ETF (NYSEARCA:PGF) Reaches New 52-Week Low – Here’s What Happened

Invesco Financial Preferred ETF (NYSEARCA:PGF)’s share price hit a new 52-week low on Thursday . The stock traded as low as $13.70 and last traded at $13.80, with a volume of 12447 shares trading hands. The stock had previously closed at $13.74.

Invesco Financial Preferred ETF Trading Down 0.1%

The firm has a fifty day moving average price of $13.98 and a 200 day moving average price of $14.17.

Institutional Investors Weigh In On Invesco Financial Preferred ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PGF. Royal Bank of Canada raised its stake in shares of Invesco Financial Preferred ETF by 1.8% during the 1st quarter. Royal Bank of Canada now owns 140,584 shares of the exchange traded fund’s stock worth $2,009,000 after purchasing an additional 2,460 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Invesco Financial Preferred ETF by 33.0% during the 1st quarter. Jane Street Group LLC now owns 106,613 shares of the exchange traded fund’s stock worth $1,522,000 after purchasing an additional 26,457 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Invesco Financial Preferred ETF by 26.0% during the 2nd quarter. NewEdge Advisors LLC now owns 26,979 shares of the exchange traded fund’s stock worth $381,000 after purchasing an additional 5,574 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Invesco Financial Preferred ETF by 27.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 67,225 shares of the exchange traded fund’s stock worth $949,000 after purchasing an additional 14,517 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Invesco Financial Preferred ETF by 10.7% during the 2nd quarter. Bank of America Corp DE now owns 676,150 shares of the exchange traded fund’s stock worth $9,540,000 after purchasing an additional 65,309 shares in the last quarter.

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.