Stonebridge Advisors LLC Reduces Stock Holdings in Invesco Preferred ETF (NYSEARCA:PGX)

Stonebridge Advisors LLC trimmed its position in Invesco Preferred ETF (NYSEARCA:PGX) by 9.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,682,794 shares of the company’s stock after selling 184,024 shares during the period. Invesco Preferred ETF comprises 4.2% of Stonebridge Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Stonebridge Advisors LLC’s holdings in Invesco Preferred ETF were worth $19,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Invesco Preferred ETF during the 4th quarter worth $32,000. Gradient Investments LLC increased its holdings in Invesco Preferred ETF by 102.9% during the fourth quarter. Gradient Investments LLC now owns 2,755 shares of the company’s stock worth $32,000 after buying an additional 1,397 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Invesco Preferred ETF in the fourth quarter worth about $34,000. Capital Analysts LLC boosted its stake in Invesco Preferred ETF by 91.4% in the fourth quarter. Capital Analysts LLC now owns 3,465 shares of the company’s stock valued at $40,000 after acquiring an additional 1,655 shares during the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new position in Invesco Preferred ETF in the fourth quarter valued at about $69,000.

Invesco Preferred ETF Stock Performance

Shares of PGX stock opened at $11.60 on Thursday. The company has a 50 day moving average of $11.53 and a 200-day moving average of $11.65. Invesco Preferred ETF has a 12-month low of $10.14 and a 12-month high of $12.06.

Invesco Preferred ETF 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.