Madrona Financial Services LLC reduced its stake in Invesco Preferred ETF (NYSEARCA:PGX) by 31.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 38,992 shares of the company’s stock after selling 18,180 shares during the period. Invesco Preferred ETF comprises 0.5% of Madrona Financial Services LLC’s holdings, making the stock its 28th largest position. Madrona Financial Services LLC’s holdings in Invesco Preferred ETF were worth $570,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Winslow Evans & Crocker Inc. purchased a new position in shares of Invesco Preferred ETF during the 1st quarter worth $26,000. FMR LLC increased its holdings in shares of Invesco Preferred ETF by 517.1% in the 1st quarter. FMR LLC now owns 2,018 shares of the company’s stock worth $29,000 after buying an additional 1,691 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Invesco Preferred ETF during the 1st quarter worth about $30,000. Whittier Trust Co. boosted its stake in shares of Invesco Preferred ETF by 3,191.9% during the 1st quarter. Whittier Trust Co. now owns 2,436 shares of the company’s stock worth $35,000 after purchasing an additional 2,362 shares during the period. Finally, Gradient Investments LLC purchased a new position in shares of Invesco Preferred ETF during the 2nd quarter worth about $54,000.
Shares of NYSEARCA:PGX traded down $0.10 during trading hours on Monday, hitting $14.82. The company’s stock had a trading volume of 37,234 shares, compared to its average volume of 2,044,057. Invesco Preferred ETF has a 52 week low of $13.12 and a 52 week high of $14.96. The company’s fifty day moving average is $14.76.
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.
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