Bank of America Corp DE Raises Position in Invesco Preferred ETF $PGX

Bank of America Corp DE raised its position in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 3.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 81,133,531 shares of the company’s stock after acquiring an additional 2,684,132 shares during the period. Bank of America Corp DE owned approximately 0.23% of Invesco Preferred ETF worth $882,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PGX. Arkadios Wealth Advisors bought a new position in shares of Invesco Preferred ETF in the 1st quarter worth approximately $844,000. Adalta Capital Management LLC raised its holdings in Invesco Preferred ETF by 25.9% in the first quarter. Adalta Capital Management LLC now owns 14,596 shares of the company’s stock worth $159,000 after purchasing an additional 3,000 shares in the last quarter. Gateway Wealth Partners LLC raised its holdings in Invesco Preferred ETF by 84.4% in the first quarter. Gateway Wealth Partners LLC now owns 26,316 shares of the company’s stock worth $286,000 after purchasing an additional 12,045 shares in the last quarter. Spartan Wealth Advisory Services LLC bought a new position in Invesco Preferred ETF in the first quarter worth $111,000. Finally, Simon Quick Advisors LLC lifted its position in Invesco Preferred ETF by 30.0% during the first quarter. Simon Quick Advisors LLC now owns 65,535 shares of the company’s stock valued at $713,000 after buying an additional 15,136 shares during the period. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Stock Performance

Shares of PGX stock opened at $10.73 on Friday. Invesco Preferred ETF has a 12 month low of $10.68 and a 12 month high of $11.92. The company’s fifty day moving average price is $10.88 and its 200-day moving average price is $11.10.

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. The Index is rebalanced on a monthly basis. The Fund seeks investment results that correspond generally to the price and yield (before fees and expenses) of a securities index.