Invesco Preferred ETF (NYSEARCA:PGX) Sees Strong Trading Volume – What’s Next?

Invesco Preferred ETF (NYSEARCA:PGX) shares saw an uptick in trading volume on Thursday . 6,873,893 shares changed hands during mid-day trading, an increase of 108% from the previous session’s volume of 3,311,453 shares.The stock last traded at $10.93 and had previously closed at $10.97.

Invesco Preferred ETF Stock Down 0.2%

The firm’s fifty day moving average price is $11.10 and its 200-day moving average price is $11.26.

Hedge Funds Weigh In On Invesco Preferred ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGX. Brighton Jones LLC bought a new stake in shares of Invesco Preferred ETF in the 4th quarter worth $626,000. Goldman Sachs Group Inc. boosted its stake in Invesco Preferred ETF by 57.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock valued at $21,031,000 after buying an additional 683,754 shares in the last quarter. Jane Street Group LLC grew its holdings in Invesco Preferred ETF by 181.6% during the first quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock worth $4,714,000 after acquiring an additional 270,939 shares during the period. Invesco Ltd. raised its position in Invesco Preferred ETF by 1.5% in the second quarter. Invesco Ltd. now owns 112,606 shares of the company’s stock worth $1,253,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Invesco Preferred ETF in the 2nd quarter valued at about $679,000. 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.