Cullen Frost Bankers Inc. Sells 41,953 Shares of Invesco Preferred ETF (NYSEARCA:PGX)

Cullen Frost Bankers Inc. cut its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 60.7% in the fourth quarter, HoldingsChannel reports. The fund owned 27,176 shares of the company’s stock after selling 41,953 shares during the period. Cullen Frost Bankers Inc.’s holdings in Invesco Preferred ETF were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PGX. Janney Montgomery Scott LLC grew its stake in shares of Invesco Preferred ETF by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 475,139 shares of the company’s stock valued at $5,868,000 after acquiring an additional 15,486 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Invesco Preferred ETF by 6.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,523 shares of the company’s stock valued at $1,229,000 after acquiring an additional 5,859 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Invesco Preferred ETF during the 3rd quarter valued at approximately $223,000. Principal Financial Group Inc. grew its stake in shares of Invesco Preferred ETF by 632.8% during the 3rd quarter. Principal Financial Group Inc. now owns 94,686 shares of the company’s stock valued at $1,169,000 after acquiring an additional 81,764 shares during the period. Finally, Oxbow Advisors LLC grew its stake in shares of Invesco Preferred ETF by 9.1% during the 3rd quarter. Oxbow Advisors LLC now owns 24,544 shares of the company’s stock valued at $303,000 after acquiring an additional 2,050 shares during the period.

Invesco Preferred ETF Trading Down 0.3 %

Shares of NYSEARCA:PGX opened at $11.52 on Friday. The stock has a 50 day moving average of $11.60 and a 200 day moving average of $11.92. Invesco Preferred ETF has a 12-month low of $11.23 and a 12-month high of $12.54.

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.