Focus Partners Wealth Buys 296,170 Shares of Invesco Preferred ETF (NYSEARCA:PGX)

Focus Partners Wealth grew its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 355.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 379,500 shares of the company’s stock after purchasing an additional 296,170 shares during the quarter. Focus Partners Wealth’s holdings in Invesco Preferred ETF were worth $4,376,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of Invesco Preferred ETF during the fourth quarter valued at approximately $110,748,000. Bank of America Corp DE boosted its stake in shares of Invesco Preferred ETF by 14.9% during the fourth quarter. Bank of America Corp DE now owns 63,414,625 shares of the company’s stock valued at $731,171,000 after purchasing an additional 8,205,825 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of Invesco Preferred ETF by 2,643,140.2% during the fourth quarter. Cohen & Steers Inc. now owns 4,995,724 shares of the company’s stock valued at $57,601,000 after purchasing an additional 4,995,535 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Invesco Preferred ETF during the fourth quarter valued at approximately $29,537,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Invesco Preferred ETF by 131.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,148,592 shares of the company’s stock valued at $47,833,000 after purchasing an additional 2,359,356 shares in the last quarter.

Invesco Preferred ETF Trading Down 0.7%

NYSEARCA PGX opened at $10.99 on Thursday. The firm’s 50 day moving average price is $11.16 and its 200-day moving average price is $11.54. Invesco Preferred ETF has a 52-week low of $10.70 and a 52-week high of $12.54.

Invesco Preferred ETF 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.