First National Bank & Trust Co. of Newtown Cuts Stake in Invesco Preferred ETF $PGX

First National Bank & Trust Co. of Newtown lowered its stake in shares of Invesco Preferred ETF (NYSEARCA:PGX) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530,142 shares of the company’s stock after selling 72,258 shares during the period. Invesco Preferred ETF accounts for about 1.2% of First National Bank & Trust Co. of Newtown’s investment portfolio, making the stock its 15th largest position. First National Bank & Trust Co. of Newtown owned about 0.15% of Invesco Preferred ETF worth $5,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PGX. Triumph Capital Management bought a new position in shares of Invesco Preferred ETF during the third quarter worth $29,000. Ransom Advisory Ltd bought a new stake in Invesco Preferred ETF in the 4th quarter valued at $31,000. First United Bank & Trust increased its holdings in Invesco Preferred ETF by 32.1% in the 1st quarter. First United Bank & Trust now owns 4,343 shares of the company’s stock valued at $47,000 after acquiring an additional 1,055 shares during the last quarter. Bayban purchased a new stake in Invesco Preferred ETF in the 4th quarter worth $52,000. Finally, International Assets Investment Management LLC purchased a new stake in Invesco Preferred ETF in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 8.60% of the company’s stock.

Invesco Preferred ETF Price Performance

PGX opened at $10.86 on Friday. The firm has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $11.16. Invesco Preferred ETF has a 52 week low of $10.76 and a 52 week high of $11.92.

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. 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.