Invesco Preferred ETF (NYSEARCA:PGX) Sees Unusually-High Trading Volume – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX) shares saw unusually-strong trading volume on Monday . Approximately 12,151,195 shares traded hands during mid-day trading, an increase of 239% from the previous session’s volume of 3,579,951 shares.The stock last traded at $11.49 and had previously closed at $11.41.

Invesco Preferred ETF Trading Up 0.7 %

The firm has a fifty day moving average of $11.94 and a 200 day moving average of $11.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PGX. Wilmington Savings Fund Society FSB purchased a new stake in Invesco Preferred ETF during the 3rd quarter worth about $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Invesco Preferred ETF during the second quarter worth approximately $35,000. Eastern Bank acquired a new stake in Invesco Preferred ETF during the 3rd quarter worth $37,000. Ellis Investment Partners LLC purchased a new position in shares of Invesco Preferred ETF during the third quarter worth about $124,000. Finally, Orrstown Financial Services Inc. acquired a new stake in Invesco Preferred ETF during the 3rd quarter worth approximately $124,000.

About Invesco Preferred ETF

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.