First Trust Advisors LP Sells 3,872,014 Shares of Invesco Preferred ETF $PGX

First Trust Advisors LP lowered its holdings in Invesco Preferred ETF (NYSEARCA:PGX) by 53.4% in the second quarter, HoldingsChannel.com reports. The firm owned 3,379,539 shares of the company’s stock after selling 3,872,014 shares during the quarter. First Trust Advisors LP’s holdings in Invesco Preferred ETF were worth $37,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Spectrum Asset Management Inc. raised its position in shares of Invesco Preferred ETF by 28.4% in the second quarter. Spectrum Asset Management Inc. now owns 4,669,495 shares of the company’s stock valued at $51,972,000 after buying an additional 1,033,904 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Invesco Preferred ETF by 21.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,139,050 shares of the company’s stock worth $46,068,000 after acquiring an additional 728,924 shares during the period. Goldman Sachs Group Inc. raised its holdings 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 valued at $21,031,000 after acquiring an additional 683,754 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Invesco Preferred ETF in the 2nd quarter valued at $4,964,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Invesco Preferred ETF during the 2nd quarter valued at $3,347,000. Institutional investors and hedge funds own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

PGX opened at $11.22 on Wednesday. Invesco Preferred ETF has a 52-week low of $10.70 and a 52-week high of $11.94. The business’s fifty day moving average is $11.44 and its 200-day moving average is $11.37.

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.