Sequoia Financial Advisors LLC Decreases Stock Position in Invesco Preferred ETF $PGX

Sequoia Financial Advisors LLC lessened its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 12.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,791 shares of the company’s stock after selling 9,713 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Invesco Preferred ETF were worth $788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGX. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Invesco Preferred ETF in the 1st quarter worth approximately $9,537,000. Goldman Sachs Group Inc. boosted its stake in shares of Invesco Preferred ETF by 57.4% during the 1st 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 during the last quarter. LPL Financial LLC boosted its stake in shares of Invesco Preferred ETF by 3.3% during the 1st quarter. LPL Financial LLC now owns 15,193,057 shares of the company’s stock valued at $170,466,000 after buying an additional 486,697 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Invesco Preferred ETF during the 2nd quarter valued at approximately $4,964,000. Finally, Jane Street Group LLC boosted its stake in shares of Invesco Preferred ETF by 181.6% during the 1st quarter. Jane Street Group LLC now owns 420,120 shares of the company’s stock valued at $4,714,000 after buying an additional 270,939 shares during the last quarter. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Trading Up 0.1%

Invesco Preferred ETF stock opened at $11.55 on Friday. The stock has a 50 day moving average of $11.61 and a 200-day moving average of $11.27. Invesco Preferred ETF has a 52 week low of $10.70 and a 52 week high of $12.50.

About Invesco Preferred ETF

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.