Invesco Financial Preferred ETF (NYSEARCA:PGF) Hits New 52-Week Low – Should You Sell?

Invesco Financial Preferred ETF (NYSEARCA:PGF)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.34 and last traded at $13.37, with a volume of 6940 shares traded. The stock had previously closed at $13.38.

Invesco Financial Preferred ETF Stock Up 0.2%

The business’s 50 day simple moving average is $13.60 and its 200 day simple moving average is $13.87.

Hedge Funds Weigh In On 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 raised its stake in Invesco Financial Preferred ETF by 26.0% during the 3rd quarter. UBS Group AG now owns 1,401,504 shares of the exchange traded fund’s stock valued at $20,490,000 after acquiring an additional 289,564 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA lifted its position in Invesco Financial Preferred ETF by 112.0% during the 4th quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 155,290 shares of the exchange traded fund’s stock worth $2,196,000 after acquiring an additional 82,025 shares during the period. Fifth Third Bancorp purchased a new position in shares of Invesco Financial Preferred ETF in the 1st quarter valued at approximately $1,021,000. &PARTNERS purchased a new position in shares of Invesco Financial Preferred ETF in the 4th quarter valued at approximately $924,000. Finally, Bank of America Corp DE grew its stake in shares of Invesco Financial Preferred ETF by 10.7% in the 2nd quarter. Bank of America Corp DE now owns 676,150 shares of the exchange traded fund’s stock valued at $9,540,000 after purchasing an additional 65,309 shares during the last quarter.

Invesco Financial Preferred ETF Company Profile

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.