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

Shares of Invesco Financial Preferred ETF (NYSEARCA:PGF) hit a new 52-week low during trading on Monday . The stock traded as low as $13.70 and last traded at $13.71, with a volume of 116914 shares changing hands. The stock had previously closed at $13.72.

Invesco Financial Preferred ETF Price Performance

The company’s 50 day simple moving average is $13.93 and its 200 day simple moving average is $14.12.

Institutional Investors Weigh In On Invesco Financial Preferred ETF

Several large investors have recently bought and sold shares of PGF. Royal Bank of Canada boosted its stake in shares of Invesco Financial Preferred ETF by 1.8% in the 1st quarter. Royal Bank of Canada now owns 140,584 shares of the exchange traded fund’s stock valued at $2,009,000 after buying an additional 2,460 shares during the period. Jane Street Group LLC raised its holdings in Invesco Financial Preferred ETF by 33.0% in the first quarter. Jane Street Group LLC now owns 106,613 shares of the exchange traded fund’s stock valued at $1,522,000 after acquiring an additional 26,457 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Invesco Financial Preferred ETF by 26.0% in the second quarter. NewEdge Advisors LLC now owns 26,979 shares of the exchange traded fund’s stock valued at $381,000 after acquiring an additional 5,574 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Invesco Financial Preferred ETF by 27.5% in the second quarter. Ameriprise Financial Inc. now owns 67,225 shares of the exchange traded fund’s stock worth $949,000 after acquiring an additional 14,517 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Invesco Financial Preferred ETF by 10.7% in the second quarter. Bank of America Corp DE now owns 676,150 shares of the exchange traded fund’s stock worth $9,540,000 after acquiring an additional 65,309 shares during the last quarter.

About Invesco Financial Preferred ETF

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.