Invesco Preferred ETF (NYSEARCA:PGX) Reaches New 1-Year Low – Here’s Why

Invesco Preferred ETF (NYSEARCA:PGX)’s stock price hit a new 52-week low on Monday . The company traded as low as $10.93 and last traded at $10.95, with a volume of 19868090 shares traded. The stock had previously closed at $11.15.

Invesco Preferred ETF Stock Down 0.9 %

The business’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $11.82.

Invesco Preferred ETF Increases Dividend

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

Hedge Funds Weigh In On Invesco Preferred ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Private Trust Co. purchased a new stake in shares of Invesco Preferred ETF in the first quarter valued at approximately $251,000. MassMutual Private Wealth & Trust FSB increased its holdings in Invesco Preferred ETF by 42.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 60,819 shares of the company’s stock valued at $682,000 after acquiring an additional 18,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Invesco Preferred ETF by 257.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 524,158 shares of the company’s stock worth $6,044,000 after acquiring an additional 377,325 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at about $158,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Invesco Preferred ETF in the fourth quarter valued at approximately $91,000.

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.