Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 12-Month Low – Time to Sell?

Invesco Preferred ETF (NYSEARCA:PGX)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.22 and last traded at $11.22, with a volume of 4287511 shares traded. The stock had previously closed at $11.32.

Invesco Preferred ETF Trading Up 0.2 %

The company’s fifty day moving average price is $11.57 and its 200-day moving average price is $11.85.

Invesco Preferred ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 24th were paid a $0.0563 dividend. The ex-dividend date was Monday, March 24th. This is an increase from Invesco Preferred ETF’s previous dividend of $0.05.

Hedge Funds Weigh In On Invesco Preferred ETF

Hedge funds have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC lifted its stake in shares of Invesco Preferred ETF by 8.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 33,422 shares of the company’s stock worth $385,000 after purchasing an additional 2,576 shares during the period. Jane Street Group LLC raised its holdings in Invesco Preferred ETF by 85.7% in the 3rd quarter. Jane Street Group LLC now owns 75,421 shares of the company’s stock worth $931,000 after purchasing an additional 34,804 shares during the period. Park Avenue Securities LLC grew its holdings in Invesco Preferred ETF by 6.2% during the fourth quarter. Park Avenue Securities LLC now owns 38,714 shares of the company’s stock valued at $446,000 after purchasing an additional 2,272 shares during the period. JPMorgan Chase & Co. increased its holdings in Invesco Preferred ETF by 71.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,789,236 shares of the company’s stock worth $22,097,000 after acquiring an additional 746,783 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Invesco Preferred ETF by 632.8% in the 3rd quarter. Principal Financial Group Inc. now owns 94,686 shares of the company’s stock worth $1,169,000 after purchasing an additional 81,764 shares in the last quarter.

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.