Invesco Preferred ETF (NYSEARCA:PGX) Hits New 1-Year Low – Here’s What Happened

Invesco Preferred ETF (NYSEARCA:PGX)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $10.93 and last traded at $10.95, with a volume of 19868090 shares. The stock had previously closed at $11.15.

Invesco Preferred ETF Stock Down 0.9 %

The firm’s 50 day moving average is $11.54 and its 200-day moving average is $11.82.

Invesco Preferred ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a $0.0563 dividend. The ex-dividend date was Monday, March 24th. This is a positive change from Invesco Preferred ETF’s previous dividend of $0.05.

Institutional Trading of Invesco Preferred ETF

A number of institutional investors have recently made changes to their positions in PGX. Legacy Private Trust Co. purchased a new stake in Invesco Preferred ETF during the 1st quarter valued at about $251,000. MassMutual Private Wealth & Trust FSB lifted its position in Invesco Preferred ETF by 42.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 60,819 shares of the company’s stock worth $682,000 after buying an additional 18,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Invesco Preferred ETF by 257.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 524,158 shares of the company’s stock worth $6,044,000 after buying an additional 377,325 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Invesco Preferred ETF in the 4th quarter valued at $158,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Invesco Preferred ETF during the 4th quarter worth $91,000.

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.