Invesco Financial Preferred ETF (NYSEARCA:PGF) Sets New 12-Month Low – What’s Next?

Invesco Financial Preferred ETF (NYSEARCA:PGF)’s stock price reached a new 52-week low during trading on Wednesday. The stock traded as low as $12.55 and last traded at $12.5650, with a volume of 45,708 shares changing hands. The stock had previously closed at $12.56.

Invesco Financial Preferred ETF Stock Performance

The business’s 50 day simple moving average is $13.09 and its 200 day simple moving average is $13.56.

Institutional Trading of Invesco Financial Preferred ETF

A number of hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. increased its stake in Invesco Financial Preferred ETF by 19.0% in the 1st quarter. North Star Investment Management Corp. now owns 318,191 shares of the exchange traded fund’s stock valued at $4,378,000 after buying an additional 50,749 shares during the last quarter. Citadel Advisors LLC bought a new stake in Invesco Financial Preferred ETF during the second quarter worth $844,000. Fifth Third Bancorp bought a new position in shares of Invesco Financial Preferred ETF in the first quarter worth about $1,021,000. Keudell Morrison Wealth Management bought a new position in Invesco Financial Preferred ETF in the 1st quarter valued at approximately $210,000. Finally, Sterneck Capital Management LLC boosted its stake in shares of Invesco Financial Preferred ETF by 5.8% during the first quarter. Sterneck Capital Management LLC now owns 143,954 shares of the exchange traded fund’s stock valued at $1,981,000 after purchasing an additional 7,920 shares in 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.