Principal Financial Group Inc. Cuts Stake in Invesco Preferred ETF $PGX

Principal Financial Group Inc. cut its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 83.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,347 shares of the company’s stock after selling 476,348 shares during the quarter. Principal Financial Group Inc.’s holdings in Invesco Preferred ETF were worth $1,026,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PGX. Ibex Wealth Advisors boosted its stake in Invesco Preferred ETF by 0.8% in the 1st quarter. Ibex Wealth Advisors now owns 121,097 shares of the company’s stock worth $1,318,000 after purchasing an additional 909 shares in the last quarter. New England Private Wealth Advisors LLC increased its stake in Invesco Preferred ETF by 1.6% during the 4th quarter. New England Private Wealth Advisors LLC now owns 58,682 shares of the company’s stock valued at $660,000 after purchasing an additional 916 shares in the last quarter. Apella Capital LLC increased its stake 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 purchasing an additional 929 shares in the last quarter. Balanced Wealth Group LLC raised its holdings in Invesco Preferred ETF by 2.4% in the first quarter. Balanced Wealth Group LLC now owns 41,237 shares of the company’s stock worth $449,000 after buying an additional 965 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Invesco Preferred ETF by 6.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,192 shares of the company’s stock worth $182,000 after buying an additional 1,046 shares during the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Trading Down 0.1%

Shares of NYSEARCA PGX opened at $10.73 on Friday. The firm’s 50 day moving average price is $10.88 and its 200-day moving average price is $11.10. Invesco Preferred ETF has a 52-week low of $10.68 and a 52-week high of $11.92.

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.