Invesco Preferred ETF (NYSEARCA:PGX) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Invesco Preferred ETF (NYSEARCA:PGX) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.30 and traded as high as $11.43. Invesco Preferred ETF shares last traded at $11.39, with a volume of 4,241,417 shares trading hands.

Invesco Preferred ETF Trading Down 0.2%

The business’s fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $11.43.

Invesco Preferred ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were paid a dividend of $0.0638 per share. The ex-dividend date was Tuesday, January 20th. This represents a c) annualized dividend and a yield of 6.7%. This is an increase from Invesco Preferred ETF’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On Invesco Preferred ETF

Several large investors have recently bought and sold shares of PGX. Shepherd Kaplan Krochuk LLC increased its position in shares of Invesco Preferred ETF by 0.6% during the third quarter. Shepherd Kaplan Krochuk LLC now owns 153,126 shares of the company’s stock worth $1,776,000 after purchasing an additional 962 shares in the last quarter. Crews Bank & Trust grew its stake in Invesco Preferred ETF by 2.5% during the 2nd quarter. Crews Bank & Trust now owns 40,780 shares of the company’s stock worth $454,000 after buying an additional 1,000 shares during the last quarter. KG&L Capital Management LLC increased its position in Invesco Preferred ETF by 0.5% during the fourth quarter. KG&L Capital Management LLC now owns 198,892 shares of the company’s stock worth $2,236,000 after buying an additional 1,068 shares during the period. Cullen Frost Bankers Inc. increased its position in Invesco Preferred ETF by 4.1% during the third quarter. Cullen Frost Bankers Inc. now owns 27,473 shares of the company’s stock worth $319,000 after buying an additional 1,089 shares during the period. Finally, Friedenthal Financial lifted its stake in Invesco Preferred ETF by 4.2% in the fourth quarter. Friedenthal Financial now owns 29,051 shares of the company’s stock valued at $327,000 after buying an additional 1,158 shares during the last quarter. Institutional investors and hedge funds own 8.60% of the company’s stock.

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. 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.