Invesco Preferred ETF (NYSEARCA:PGX) Sees Unusually-High Trading Volume – Should You Buy?

Invesco Preferred ETF (NYSEARCA:PGX) saw an uptick in trading volume on Wednesday. 6,435,441 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 4,112,501 shares. The stock last traded at $9.8450 and had previously closed at $9.91.

Invesco Preferred ETF Trading Down 0.6%

The business’s 50 day moving average price is $10.28 and its 200-day moving average price is $10.88.

Hedge Funds Weigh In On Invesco Preferred ETF

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position in Invesco Preferred ETF by 2.1% in the 2nd quarter. Allworth Financial LP now owns 3,438,874 shares of the company’s stock worth $37,277,000 after purchasing an additional 71,096 shares during the last quarter. Tudor Financial Inc. grew its stake in shares of Invesco Preferred ETF by 31,013.2% during the second quarter. Tudor Financial Inc. now owns 138,765 shares of the company’s stock worth $1,504,000 after purchasing an additional 138,319 shares during the period. Stonebridge Advisors LLC increased its stake in shares of Invesco Preferred ETF by 54.4% in the 1st quarter. Stonebridge Advisors LLC now owns 1,223,779 shares of the company’s stock valued at $13,315,000 after acquiring an additional 431,371 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Invesco Preferred ETF by 47.2% in the second quarter. Envestnet Asset Management Inc. now owns 976,257 shares of the company’s stock valued at $10,583,000 after purchasing an additional 313,045 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of Invesco Preferred ETF by 71.7% in the first quarter. Kestra Advisory Services LLC now owns 304,303 shares of the company’s stock worth $3,311,000 after acquiring an additional 127,044 shares in the last quarter. 8.60% of the stock is owned by institutional investors.

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.