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

Invesco Preferred ETF (NYSEARCA:PGX) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.76 and last traded at $10.84, with a volume of 658 shares changing hands. The stock had previously closed at $10.84.

Invesco Preferred ETF Stock Performance

The business’s 50-day moving average price is $11.02 and its two-hundred day moving average price is $11.18.

Institutional Investors Weigh In On Invesco Preferred ETF

A number of institutional investors have recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Invesco Preferred ETF during the fourth quarter valued at approximately $626,000. Goldman Sachs Group Inc. increased its holdings in shares of Invesco Preferred ETF by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock valued at $21,031,000 after acquiring an additional 683,754 shares during the last quarter. Jane Street Group LLC raised its position in shares of Invesco Preferred ETF by 181.6% during the 1st quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock valued at $4,714,000 after acquiring an additional 270,939 shares in the last quarter. Invesco Ltd. raised its position in shares of Invesco Preferred ETF by 1.5% during the 2nd quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock valued at $1,253,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Invesco Preferred ETF during the second quarter worth $679,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

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. The Index is rebalanced on a monthly basis. The Fund seeks investment results that correspond generally to the price and yield (before fees and expenses) of a securities index.