LPL Financial LLC Cuts Stock Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

LPL Financial LLC reduced its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 5.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,808,968 shares of the company’s stock after selling 770,238 shares during the quarter. LPL Financial LLC’s holdings in Invesco Preferred ETF were worth $158,191,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PGX. Allworth Financial LP lifted its position in shares of Invesco Preferred ETF by 4.3% during the third quarter. Allworth Financial LP now owns 3,588,261 shares of the company’s stock valued at $44,315,000 after purchasing an additional 148,476 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Invesco Preferred ETF by 2,034.9% in the 2nd quarter. Apollon Wealth Management LLC now owns 2,439,962 shares of the company’s stock valued at $28,182,000 after buying an additional 2,325,672 shares during the last quarter. ACT Advisors LLC. bought a new position in shares of Invesco Preferred ETF during the 3rd quarter worth approximately $17,368,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Invesco Preferred ETF by 4.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,382,375 shares of the company’s stock valued at $15,966,000 after acquiring an additional 64,346 shares during the last quarter. Finally, Iowa State Bank lifted its holdings in Invesco Preferred ETF by 3.6% during the second quarter. Iowa State Bank now owns 1,314,877 shares of the company’s stock worth $15,187,000 after acquiring an additional 46,127 shares during the period.

Invesco Preferred ETF Price Performance

PGX stock opened at $11.95 on Friday. Invesco Preferred ETF has a 1-year low of $10.91 and a 1-year high of $12.54. The stock’s fifty day simple moving average is $12.27 and its two-hundred day simple moving average is $11.90.

Invesco Preferred ETF 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.