Invesco Preferred ETF $PGX Stock: Charles Schwab Trust Co Trims Holdings

Charles Schwab Trust Co reduced its position in Invesco Preferred ETF (NYSEARCA:PGX) by 66.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,717 shares of the company’s stock after selling 203,316 shares during the quarter. Charles Schwab Trust Co’s holdings in Invesco Preferred ETF were worth $1,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ibex Wealth Advisors raised its holdings in Invesco Preferred ETF by 0.8% during the 1st quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock valued at $1,318,000 after buying an additional 909 shares during the last quarter. Apella Capital LLC boosted its position in Invesco Preferred ETF by 5.0% during the 1st quarter. Apella Capital LLC now owns 19,507 shares of the company’s stock valued at $220,000 after buying an additional 929 shares during the period. Balanced Wealth Group LLC boosted its position in Invesco Preferred ETF by 2.4% during the 1st quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock valued at $449,000 after buying an additional 965 shares during the period. First United Bank & Trust grew its holdings in Invesco Preferred ETF by 32.1% in the 1st quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock worth $47,000 after acquiring an additional 1,055 shares during the last quarter. Finally, KG Capital Management grew its holdings in Invesco Preferred ETF by 1.0% in the 3rd quarter. KG Capital Management now owns 117,594 shares of the company’s stock worth $1,184,000 after acquiring an additional 1,114 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors and hedge funds.

Invesco Preferred ETF Price Performance

Shares of PGX stock traded up $0.12 during mid-day trading on Thursday, reaching $10.11. The stock had a trading volume of 5,472,812 shares, compared to its average volume of 3,859,372. The stock’s 50-day moving average price is $10.41 and its two-hundred day moving average price is $10.77. Invesco Preferred ETF has a 52-week low of $9.93 and a 52-week high of $11.64.

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. 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.