Invesco Preferred ETF $PGX is Spectrum Asset Management Inc.’s Largest Position

Spectrum Asset Management Inc. grew its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,372,426 shares of the company’s stock after purchasing an additional 1,739,156 shares during the period. Invesco Preferred ETF comprises about 76.0% of Spectrum Asset Management Inc.’s holdings, making the stock its biggest holding. Spectrum Asset Management Inc.’s holdings in Invesco Preferred ETF were worth $60,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PGX. Brighton Jones LLC purchased a new stake in Invesco Preferred ETF in the 4th quarter worth about $626,000. Goldman Sachs Group Inc. lifted its stake in Invesco Preferred ETF by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,874,427 shares of the company’s stock worth $21,031,000 after acquiring an additional 683,754 shares in the last quarter. Jane Street Group LLC lifted its stake in Invesco Preferred ETF by 181.6% in the 1st 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 in the last quarter. Invesco Ltd. lifted its stake in Invesco Preferred ETF by 1.5% in the 2nd 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 purchased a new stake in Invesco Preferred ETF in the 2nd quarter worth about $679,000. 8.60% of the stock is owned by hedge funds and other institutional investors.

Invesco Preferred ETF Price Performance

Shares of Invesco Preferred ETF stock opened at $11.14 on Monday. The stock has a 50-day moving average price of $11.17 and a 200 day moving average price of $11.30. Invesco Preferred ETF has a 1 year low of $10.82 and a 1 year high of $11.92.

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. 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.