Invesco Financial Preferred ETF (NYSEARCA:PGF) Hits New 12-Month Low – Time to Sell?

Invesco Financial Preferred ETF (NYSEARCA:PGF)’s stock price hit a new 52-week low on Monday . The stock traded as low as $13.47 and last traded at $13.48, with a volume of 88074 shares traded. The stock had previously closed at $13.51.

Invesco Financial Preferred ETF Stock Performance

The business’s 50-day simple moving average is $13.66 and its 200-day simple moving average is $13.92.

Institutional Trading of Invesco Financial Preferred ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PGF. UBS Group AG lifted its position in Invesco Financial Preferred ETF by 26.0% during the third quarter. UBS Group AG now owns 1,401,504 shares of the exchange traded fund’s stock valued at $20,490,000 after purchasing an additional 289,564 shares during the period. Bank of America Corp DE boosted its holdings in Invesco Financial Preferred ETF by 9.5% in the third quarter. Bank of America Corp DE now owns 740,240 shares of the exchange traded fund’s stock valued at $10,822,000 after purchasing an additional 64,090 shares during the last quarter. Investors Research Corp grew its position in Invesco Financial Preferred ETF by 7.4% during the 2nd quarter. Investors Research Corp now owns 378,941 shares of the exchange traded fund’s stock worth $5,195,000 after purchasing an additional 26,222 shares during the period. Private Advisor Group LLC grew its position in Invesco Financial Preferred ETF by 1.1% during the 4th quarter. Private Advisor Group LLC now owns 342,877 shares of the exchange traded fund’s stock worth $4,848,000 after purchasing an additional 3,852 shares during the period. Finally, Evoke Wealth LLC raised its stake in shares of Invesco Financial Preferred ETF by 4.9% during the 4th quarter. Evoke Wealth LLC now owns 334,076 shares of the exchange traded fund’s stock valued at $4,724,000 after buying an additional 15,752 shares during the last quarter.

About Invesco Financial Preferred ETF

PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly. The Fund normally invests at least 90% of its total assets in preferred securities that consists of the Index. The Fund may contain securities in the financial and insurance sectors.